Last Minute Transaction
The clients found a residential property located in Croydon which they planned to purchase through a standard buy-to-let mortgage. Their loan application was turned down at the very last minute, after the valuation report was received. The reason was that the heavy renovation required for the new property was more than the lender felt comfortable with.
We discussed the case with the broker, assessed the scope of works and agreed to proceed immediately with the acceptance of a retyped valuation. Working as always with speed and flexibility as a priority, we provided funds to the clients to successfully complete the purchase on time.
Property Type:
Residential
Loan Amount:
£1,400,000
LTV:
70%
Term:
12 months retained
