Our client has an extensive range of business and property assets providing a range of complex income streams due to an unusual business structure.
The client was looking to raise circa £2.5m on a London based BTL property to refinance existing mortgage debt and release capital for investment purposes.
Many BTL lenders will only consider the income generated by the investment property itself when calculating lending on BTL property. Where this is insufficient for the required borrowing, the next stage is to find a lender who will consider personal income as well, however most lenders will only look at traditional income sources such as employment or self-employment, and our client would not tick these restrictive boxes.
By finding a private bank able to untangle the complex nature of the client’s business holdings, we were able to demonstrate affordability beyond that of which the investment property itself could provide or which a high street bank would be able to understand.
Given the complexity of the client, we arranged and attended a meeting with the client and private bank to ensure a clear and genuine understanding of the client’s position and were able to provide an extremely competitive solution, satisfying all borrowing needs.