Faced with a fast-approaching deadline to settle development finance and several legal and structural hurdles, our client required a rapid and pragmatic remortgage solution for their buy-to-let property. Aria Finance managed the entire process, securing a buy-to-let refinance in just 8 weeks, well within the client’s required time scale.
The Client:
The client was an experienced landlord who had recently developed a new two-bedroom end-terrace property on land split from their main residence.
The Situation:
After separating a portion of land from their main residential title, the client built a buy-to-let property and funded the project using bridging finance. With the bridge needing to be repaid within two months, the client urgently required a remortgage to clear the bridging loan.
The case was made more complex by the absence of a build warranty, the newly created title for the land, and disruptions within the client’s legal team when their appointed solicitor went off sick early in the process. A locum solicitor temporarily took over before the original solicitor returned just ahead of completion. With the bridge’s expiry looming, consistent communication and co-ordination were essential.
Our Solution
We engaged directly with the lender to address the challenge of the missing build warranty and secured their agreement to accept a retrospective warranty from a reputable provider. We also worked closely with both the lender and solicitors to resolve concerns relating to the newly separated land title. The lender ultimately agreed to take a charge over both the property and the associated land, allowing the case to progress.
Throughout the process, we maintained regular contact with the client and both solicitors, ensuring a smooth transition between legal representatives and keeping momentum at each stage. This proactive approach allowed us to manage the time-sensitive nature of the transaction effectively.
Benefits & Results:
We engaged directly with the lender to address the challenge of the missing build warranty and secured their agreement to accept a retrospective warranty from a reputable provider. We also worked closely with both the lender and solicitors to resolve concerns relating to the newly separated land title. The lender ultimately agreed to take a charge over both the property and the associated land, allowing the case to progress.
Throughout the process, we maintained regular contact with the client and both solicitors, ensuring a smooth transition between legal representatives and keeping momentum at each stage. This proactive approach allowed us to manage the time-sensitive nature of the transaction effectively.
