This application presented a challenge as the client was keen to group the properties together under one application. This was tricky as two of the properties were commercial investments, with the other being owner-occupied.
Each of the properties had previously been occupied by the borrower. They had built up the trade in each property, before letting it at a premium rent, based on the strong trade, which was immediately available. This excluded a lot of lenders from the market, as they weren’t comfortable with the mixture of owner-occupied and investment properties on one application.
We were able to secure funding for the applicant on the below terms using a blend of rental income and the net profit of the owner-occupied restaurant.
The loan was funded through a highly-regarded challenger bank at a very low rate, which represented a significant saving for the client.