Loan type: Buy-to-Let Refinance | Loan value: £344,300 | LTV: 71% | Term: 5 years
When it comes to property investment timing is critical, so it is essential that investors choose a broker with expert market and product knowledge who is also dedicated to delivering a first-class service, like Aria Finance. This case study perfectly demonstrates the difference Aria Finance can make, delivering a swift refinance in just 3 weeks.
The Client:
The client is a professional property investor with a large portfolio of properties.
The Situation:
An exclusive property in Edinburgh became available for purchase at £423,500. Including taxes and renovations, the total investment was £551,000. The client intended to make a case purchase and had £200,000 readily available. However, they needed to secure the remaining £351,000 from their existing portfolio.
Our Solution:
We received the client's enquiry in early May and the client had a target completion date of mid-June. As a result, it was essential that the refinance could be completed swiftly. After reviewing the client's portfolio, we identified a single property, a 4 bed HMO, valued at £485,000, generating a monthly rental yield of £3,800.
To expedite the process, we worked with a lender that offered an Automated Valuation Product (AVM), which would bypass the need for a full valuation and save valuable time.
Benefits & Results:
The AVM for the clients HMO successfully passed allowing us to quickly proceed without the need for a full valuation. By working closely with the client and the lender, ensuring that all necessary documentation was promptly submitted, we completed the refinance by the end of May. This quick turnaround, just over three weeks from the initial enquiry, enabled the client to meet the mid-June completion date for their new purchase.
This efficient process not only met but exceeded the client's expectations, demonstrating our commitment to providing timely and effective financial solutions.
