Here at Key, we often ask ourselves – why don’t businesses and property investors use a broker more often to assist in raising finance? Indeed, we think this is a fundamental question when looking to raise business finance. So, perhaps it’s worthwhile highlighting a few of the scenarios where a broker can play a vital role in ensuring the right type …
£1.1m Development Finance Facility
We secured a Development Finance facility of £1.1m (58% GDV), over 15 months. Our client purchased a 15 bed property in West Yorkshire with the intention of refurbishing the flats, retain the freehold, create leaseholds and sell. The refurb project is being undertaken by client’s existing business which is a specialist refurbishment contractor . Due to his experience we were …
£106k facility to purchase BTL property in North West
We arranged a £106,795 interest only loan over 10 years with a fixed rate for 5 years for an existing client who came back to Key to source finance to facilitate the purchase of a residential investment property in Southport. Our client is an Italian citizen and only had one set of accounts. Having found no appetite to support this …
£1.2m refinance to help our client regain control over their property portfolio
Key have recently helped a client with bridging finance of £1.2m on a complex deal.We were first introduced to the clients in 2017 at a time when the relationship with their lender was deteriorating. Their property portfolio comprised a mix of commercial, HMO, residential BTL and development assets that at the time had an estimated value of c.£3.7m. With evidently …
Changes to HMO Legislation from 1st October 2018
HMO landlords should be aware of changes to the definition of an HMO and new legislation that has come into effect this week. Presently, around 60,000 HMOs currently require a licence and it’s estimated, that under this new legislation, a further 177,000 properties may need one. Licences are designed to ensure landlords are providing homes that are well-maintained, meeting acceptable …