Vantage complete buy-to-let mortgage in 16 working days

Hero Curve

Loan: £296,250


Property Value: £395,000 


Rate: 3.54%, 5-year fixed rate


Term: 15 years

 

 

 

At Vantage we work quickly to obtain the most suitable solution for the client, either on your behalf or by guiding you through the process. This case study highlights how we were able to work with a new broker to help their client obtain a buy-to-let mortgage as a bridging exit in just 16 days.


Client

The client had one buy-to-let property which had originally been purchased via a bridging loan.


Situation

The bridging loan which the client had used to purchase the buy-to-let property was close to reaching the term expiry date. If the client did not repay the bridging loan before the term expiry date, then she would be faced with daily interest charges. As a result, it was essential that a solution was reached quickly in order to avoid the expensive interest charges.


Our solution

After carefully reviewing the case we decided that a remortgage would be the best solution for our client. As it was imperative that the remortgage completed within our strict timeframe we kept in regular contact with the lender, ensuring they had everything they needed to progress the case with.

The case qualified for fast track legals, however the valuation report requested full title investigations. The broker and client were concerned that this would delay the application. Because of our experience dealing with complex buy-to-let cases we were able to reassure the broker and client that using the dual representative service offered by the lender would be beneficial for speed.


Benefit

By working with us the client was able to benefit from our good working relationship with the lender, which meant we were able to convey the urgency of the case to ensure it was treated with urgency. In addition, by liaising with the lender and their solicitor we were able to avoid a delay with the full title investigations, instead the case completed a mere 5 days after solicitor instruction.


Result

The team at Vantage Finance are experts in complex buy-to-let cases and have excellent relationships across our extensive panel of lenders. As a result, our expertise meant that we were able to arrange the buy-to-let mortgage for our client in just 16 days, from enquiry to completition.