Case Study: Fast Funding for a BTL Landlord Facing Urgent Home Improvement Costs

A landlord needed to raise £39,000 against their buy-to-let property to fund home improvements to their main residence, with the added pressure of repaying tradespeople promptly. Aria Finance sourced a lender able to move quickly, use an automated valuation and avoid the need for consent, with the case progressing from initial client contact to funding in just 11 days. 

Introduction:

• £39,000 BTL second charge mortgage

• 75% LTV against a four-bedroom mid-terrace property

• 15-year term

• 11 days from application to completion

• Lender sourced with no consent requirement and an automated valuation

• Funding arranged quickly to enable the client to repay tradespeople on time

The Client:

The client was an experienced landlord with a four-bedroom mid-terrace buy-to-let property. They were looking to raise additional funds to cover home improvements to their main residence.

The Situation:

The client needed to access the funds quickly, as they had tradespeople to repay for work already completed. The challenge was finding a BTL lender that could accommodate the required 75% LTV while also supporting a fast transaction.

The lender also needed to be comfortable proceeding without consent and use an automated valuation, helping to avoid unnecessary delays.

Our Solution:

Aria Finance assessed the client's circumstances and sourced a suitable BTL second charge lender that could meet both the lending requirements and the tight timescale.

The lender was able to proceed without requiring consent and use an automated valuation, helping to streamline the process. Aria also maintained close communication throughout, ensuring the case continued to move forward quickly.

From the initial client contact, the case was turned around and funded in just 11 days, allowing the client to repay their tradespeople as planned.

Benefits & Results: 

The right lender and a streamlined approach enabled the client to access the £39,000 they needed without unnecessary delays. The 15-year term provided a manageable structure for the borrowing, while the automated valuation and absence of a consent requirement helped keep the transaction moving.

Most importantly, Aria's understanding of the client's situation and focus on finding a lender that could work to the required timescale meant the funds were available quickly, allowing the client to meet their commitments to tradespeople on time.