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Buy-to-Let Case Study Refurbishment Sitting Tenant

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Loan value: £63,241  |  Rate: 6.99%

The Situation:

Our client wanted to purchase a property requiring refurbishment - with an existing, sitting tenant.

Refurbishment began on the property before ownership had been transferred thereby placing the risk with our client (no guarantees that the vendor wouldn't change his mind and pull out of the deal).

The sitting tenant needed to be rehoused during the works. This scenario - renovation before exchange and a sitting tenant - would have precluded most high-street lenders.

Despite these factors, our client still wanted a competitive rate on his loan.

Our Solution:

  • We brokered a deal which provided a higher LTV, with an extended offer with no additional fees
  • Kept the client informed at every step of the process
  • We also had regular communications with the vendor's solicitors to ensure the exchange process was on track

Result:

The client was able to refurbish the property and temporarily rehouse the tenant.

Find out more about the benefits of working with Aria Finance for a Buy-to-Let Mortgage here.

Buy-to-Let Refurbishment Sitting Tenant

Over 20 years of experience

Why choose Aria?

With over 20 years of experience in bridging finance and the specialist distribution industry, our expert team works on your behalf to provide access to market-leading rates with rapid loan completion as standard. We offer one point of contact from enquiry through to completion, always aiming to make the process as smooth as possible.
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