Purchase price: £715,000
Loan Amount: £408,000
Charge: 1st Charge
LTV: 60% of the Valuation
Term: 24 Months
Product: Buy to Let
The applicant wanted to purchase a new build Buy to Let property in London.
The applicant is a foreign national on an entrepreneur visa in the UK.
The applicant was purchasing his first Buy to Let property and had recently established a new firm.
In addition, the applicant was receiving a gifted deposit from his father who resides overseas, meaning evidencing his source of deposit proved more difficult.
First 4 Bridging were able to secure 60% LTV on the new build property, with 3 months payment retained to allow the applicant to source a tenant before his repayments commenced. The client was happy that we were able to secure the financing for him under tight time frames, challenging issues and his recent change in employment status in the UK.