Amount: £318,850 | LTV: 70% | Term: 15 years
Developing and maintaining good business relationships is in our DNA.
That’s why when you have a complex case we’re happy to work with you helping you every step of the way, or representing you, as we try to find the best lending option for your client.
Client
Expiring bridging loan used by the client to purchase a buy-to-let property.
Situation
A broker, with whom we’d not worked with before, approach us with to help them with a client who had a bridging loan that was about to expire. Failure to pay if off would result in expensive penalties and fees. It was vital that we moved fast and got the client the funding they needed.
Our solution
We examined the details of the case and came to the conclusion that remortgaging would provide the best option for the client’s situation. Being sensitive about the time, or lack thereof, we stayed touch with the lender to ensure they had all the information needed, making sure there weren’t any hold-ups.
After finding out that the valuation report required a full title investigation, both the broker and the borrower were worried we wouldn’t have enough time to complete before the bridging load expired. However, we were to allay their concerns as the lender recommended using one law firm for the whole transaction as this would save a huge amount of time.
Benefit
Because we have such a wonderful relationship with our pool of lenders, when we have a case under time pressure, they’re more than happy to get the deal over the line as soon as humanly possible.
Staying in touch with lender and their solicitor was key factor in helping to prevent any hold-ups with the full title investigation. As a result, once the instruction came from the solicitor, we were able to get the deal done in just 5 days.
Result
Whether it’s with the broker, lender, or both, when we together as a team we’re able to do amazing things in the shortest amount of time. This was very much the case here, completing the mortgage in just 16 days.
Our broad range of lending partners enable us to get the perfect deal for you’re the client. Aria Finance are one of the leading experts in buy-to-let mortgages regardless of their complexity.
Why not contact your Aria Finance Buy-to-Let Specialist today? For a quick chat, a meeting to discuss opportunities, or a more complicated deal on your desk – email or give us a call at 020 8731 5333.
