Naturally our clients were looking for the best deal possible deal, from submission of their details the lender took only 24 hours to request a meeting with them.
- Loan Amount – £119,000
- Valuation – £150,000
- Rate – 3.1% over base
- Term – 15 years
- Monthly Payment – £769.00
- Repayment Method – Repayment
- Lender Arrangement Fee – £1,785
The property was not in the best of conditions, the valuer commented that there were about £25,000 worth of repairs. There was also a tenant in situ and the lender needed confirmation that the property would be vacant upon our client’s possession of the property.
Working closely with the client and the lender in tandem we were able to provide the lender with quotations for the works that were needed which was substantially less than the valuer’s estimates, the valuer did confirm they were acceptable and we were able to proceed without any further issue. Also the issue on the tenant was also quickly resolved with an agreement put into place which all parties were happy with.