We are working closely with one of our funders who are actively attracting landlords with what is essentially a pre-agreed funding limit. The idea is that the facility can be used for remortgage purposes for renovations as well as property purchases including auctions. The facility is aimed at landlords with an existing property portfolio. A review is undertaken using the property schedule to ascertain which properties can be taken as security or geared up against. An approval with a limit is then provided and the landlord is free to drawdown against that facility.
- It’s ideal for auction purchases which notoriously put pressure on the buyer to complete in a short space of time, typically 30 days, so with this facility in place, this removes the stress and worry.
- We have helped landlords negotiate a better purchase price because completion can happen more quickly.
- Portfolio landlords that wish to carry out refurbs in-between lets find this facility very helpful indeed, as funds can be made available within a few days
- Properties purchased that are not yet rental income generating can also benefit from taking a short term finance facility for say 3 months with interest rolled up. There may be renovations taking place or indeed converting the property into an HMO. The finance will automatically switch over to your chosen BTL mortgage product. The bridging and the mortgage are approved at the same time so there is no need for a 2nd application post renovations.
If you are an experienced property landlord, looking for a funder that can move swiftly and with the peace of mind of having a “Forward Facility” in place, then get in touch with us now.
Get in touch:
Call us on 02380 763 905 or email us at