- The client currently owns a semi commercial investment property in Bolton (currently unencumbered) The property was purchased in 2000, and the client spent over £100k in development costs-refurbishing the property to its current condition.
- The property is more residential with a shop located on the ground floor with 6 flats situated above- 1x 2 bedroom and 5x 1 bedroom.
- The client wanted to raise finance from the property in order to use the funds as deposits to successfully purchase new buy to let properties.
- The current valuation of the property is £440k.
So how did Key assist?
After speaking with several lenders, Key were able to assist and provided the below competitive rates and terms.
- Loan Amount- £264k
- Loan term- 20 years
- Interest rate- 4.8% (fixed for 3 years)
- LTV- 60%
Here at Key we are part of a commercial finance community, providing unbiased and whole of market advice. If yourself or your clients require funding for the above scheme, then please do not hesitate to contact myself or the Key team today and we will be more than happy to assist.