Adjusting to a client’s schedule for a commercial BTL mortgage

Loan Amount:
£238,000

Property Value:
£450,000

LTV:
50%

Sometimes, a borrower or brokers working arrangements can threaten to slow down a deal. A client approached us for funding but, as they weren’t just based in one place, it made it difficult for our underwriter to narrow down the details.

Nevertheless, with tenacity, we managed to get everything organised. This was important too as this was a commercial BTL mortgage deal. Commercial deals can often be more complicated than their residential counterparts.

With this case specifically, we had to move swiftly to accommodate challenges with certain aspects of the deal.

Addressing the red flags

The borrower was rushed to lock in this investment and as such, our underwriter worked diligently with the solicitors involved to find the quickest way forward possible. This was a new client so we had to go through all our diligent checks, gathering what we needed along the way as questions were raised. But, we gathered paperwork that highlighted their vast experience in the market, and reassured us from an underwriting perspective.

Looking forward, we also saw that the borrowers planned to move onto long-term finance for the exit strategy. While the underwriter thought this may pose an issue initially, we discovered that the borrower had many options available to them via external lenders.

Seeing that any road bumps we were to face would be temporary, we happily delivered finance.

We have tools for complicated setups

We’re used to the logistical challenges that can emerge in this market, with UK property being as popular as it is with overseas buyers. At Market Financial Solutions, we are able to work with applicants from any country, other than those that are sanctioned.

We also can accommodate a broad range of applicant types, including those that are both prevalent in the UK, and overseas. This includes SPVs, trusts, and LLPs.

The property market may only become more complicated from here, with an autumn budget looming. Regardless of what’s on the horizon, we’ll be ready.