Steve needed to raise funds for a shortfall on his next buy-to-let purchase. He also wanted to consolidate some debts on his credit cards.
The challenge was to raise the level of capital he needed at nearly 80% loan to value on a Buy to Let property.
First 4 Seconds found a suitable lender that would lend up to 80% LTV on a BTL property. The loan paid out within 8 days from receipt of completed documentation.
Mortgage balance: £298,000
Property value: £510,000
Loan to value: 75%
Loan amount: £75,000
Rental income: £2,100 pcm
Loan term: 20 years
Monthly payment: £584.21
Annual Rate: 5.99% per annum (Capital & Interest)