Case Studies


Client: Property Developer wanting to release capital from an un-mortgageable property.

Case: The Developer could not get a Buy-to let mortgage until work had been carried out around and in the property. The Developer needed the  funds to complete the work and also to secure their next project.

 Conclusion: A bridging loan was arranged with no affordability checks needed, for 18 months & on a rolled up interest payment.
  
Property value: £280,000
Loan amount: £175,000
Loan type: Bridging loan
LTV: 62.5%
Lender arrangement fee: 2% paid on completion
Mortgage payment:  £0 per calendar month rolled up interest

*

 
Client: Employed couple whose current mortgage terms were coming to an end
 
Case: The Clients had been offered a renewal by their lenders, but they were not happy with the lenders’ desk-top valuation of their property and the interest rate that was offered to them. They gave us permission to act on their behalf and we spoke with the lender to arrange better terms. A free valuation of the property was arranged and a higher value was agreed, giving the clients more options on their interest rate and terms. They decided to pay a fee which would give them a lower interest rate over their chosen term of 2 years, which saved them over eighty pounds a month.

Conclusion: We were able to secure them a better deal with their existing lender, while saving them time. 

Property value: £365,000
Loan amount: £309,478
Loan type: Repayment  2 years fixed
LTV: 85%
Mortgage payment:  £1,128.30 per calendar month
Lender arrangement fee: £999 paid in advance

*

Client: Self employed applicant wanting to convert a joint residential mortgage into a single owner investment Buy-to-let mortgage and release equity from the property to pay for the refurbishment work carried out on it.
 
Case: This was a tricky one for many reasons: the owner was not a owner occupier & the current residential mortgage in joint names was to be changed to a BTL investment in a single name. The Client is self employed with decreasing income accounts over the last 3 years and this was also completed during the first Coronavirus lock down. Even though most lenders would not lend to the Client, after exhaustive calls and a thorough search, a building society was flexible enough to listen and understand our Client’s situation and our proposal.

Conclusion: Our Client and his ex partner were able to move on from their financial and personal situation, creating a positive outcome for both of them. The property was rented within 3 weeks of the mortgage completion.
 
Property value: £170,000
Loan amount: £127,500
Loan type: Interest only 5 years fixed
LTV: 75% 
Mortgage payment:  £270.94 per calendar month
Lender arrangement fee: £999 included in loan amount
Rental income: £725 per calendar month

*

Client: Employed couple who had not reviewed their mortgage after its term had come to an end.
 
Case: Clients had not reviewed their mixed mortgage of repayment & interest only after their initial term had come to an end, so it had gone on to a rate of 4.99% with their mortgage payments at over £800 pounds per month. After reviewing their details, we came up with an offer from their current lenders bring their interest rate down to 1.39%.

Conclusion: Staying with their current lender our Clients secured a better deal, avoiding further administration costs, saving time and the new arrangement was finalised within the month.
 
Property value: £450,000
Loan amount: £112,392.19
Loan type: Mixed repayment & interest only 2 years fixed
LTV: 22.5%
Mortgage payment:  £545.99 per calendar month
Lender arrangement fee: £999 added to the loan

*

Client: Employed couple with investment Buy-to-let, looking to re-mortgage after their term with current lender came to an end.

Case: The Clients also wished to release some equity in their BTL property to pay for remedial work on the property and to clear some outstanding debit, while reducing their monthly payments.

Conclusion: The Clients were paying £487.16 per month. With the new mortgage they borrowed a further £52,000 and still obtained lower monthly repayments of £298.04 over the same term length.
 
Property value: £275,000
Loan amount: £169,499
Loan type: Interest only 5 years fixed
LTV: 62%
Mortgage payment:  £298.04 per calendar month
Lender arrangement fee: £1,499 added to the loan

*

Client: A Limited company with a bridging loan to repay/convert to Buy-to-let mortgage releasing further funds.
 
Case: The company had a Bridging loan on a property which had been refurbished and was now ready to put on the rental market. The clients also had no income they could prove, the main object was to find a lender who did not require income for the mortgage.

 Conclusion: A BTL mortgage was organised with a specialist company that deals with Ltd companies and requires no income. Client was able to release further funds from the property for another investment and the property was rented out bringing income for the client and paying the mortgage.


Property value: £280,000
Loan amount: £210,000
Loan type: Interest only 5 years fixed
LTV: 75%
Mortgage payment:  £623.07 per calendar month
Lender arrangement fee: £4,235 added to the loan
Rental income: £925 per calendar month

*



Property Search Cases

Downsizing

A recently widowed lady was looking into downsizing and moving to a new area.
We assisted her during the whole process. We dealt and negotiated with different estate agents for the sale of her own property so that she could choose the one offering the best deal and service;
we arranged for an EPC; we advised her on viewings of suitable properties to buy and arranged an orientation tour of the area she had chosen. We assisted her with the negotiations for the purchase of a retirement home and finally we dealt with all the practical aspects of her move.
Our assistance and impartial advice enabled her to make the right choices and to go through the whole process easily and promptly.


Home and Investment Search

We were instructed by a client who was looking for a country home not only with character but also with investment potential. After an extensive search covering the counties of Cambridgeshire, Lincolnshire & Northamptonshire, we arranged several viewings and finally a 16th century Manor House estate was secured, with a total of 5 acres of land, plus a village cottage, coach house, dove cote and farm buildings with potential for development into residential properties. This gave the client exactly what he was looking for, a home and an investment project all in one.


Family Relocation

A family relocating back to the UK was looking for a suitable home and school in Cambridgeshire. We conducted a successful search for the property and the school when the clients were still overseas. After previewing a number of properties and schools, we submitted to the clients a shortlist of suitable ones that we then arranged for them to view in one (very busy!) day. They finally chose a house which ticked all the right boxes within walking distance of preferred school and we helped them secure the property under asking price, as well as start the admission process at the school.


Family on holiday

A family required a new home in Bedfordshire having already sold their house but had been unable to find the right property for months. While on holiday abroad, they realised that what looked like the perfect property had become available. Determined not to miss the opportunity, they asked for our assistance. We viewed the property on their behalf and, as it perfectly matched their brief and it was already attracting much interest, we were instructed to put in an offer straight away which secured them the property.


Home Search

A young family moving to Cambridge required a central city property with character but also suitable for mum and toddler. We managed to source for them the ideal property in a very fast-paced and competitive market, outbidding another offer as we were able to show our clients were better placed to proceed quickly and smoothly.


Family from overseas thinking of moving to the UK

A family from overseas who had never been to England wanted to know the area before accepting a job offer which would entail moving to Cambridgeshire. We organised an Orientation Day to give them an idea of the best areas to live in close to work (taking them to Stamford, Oundle and Peterborough), as well as of the type of properties available within their budget, arranging viewings of three very different ones. We also arranged a visit to an independent renowned school and showed them the main attractions and amenities of the area. This enabled them to make an informed decision on whether to accept the job offer and to relocate the whole family to the UK. In the end they decided to go ahead and a successful home search was undertaken for them.

Call us on +44 (0)1480 718707 or use our Contact Page

Stacks Image 1079

We may charge a fee which can typically be £250 on acceptance and £250 on completion. The information given in this website does not contain all of the details you need to choose a mortgage. Make sure that you read the separate key facts illustration before you make a decision.


The FCA does not regulate some forms of Buy-to-let mortgages and bridging loans. If you have a complaint or dispute with us, you are entitled to make a complaint. We have a complaints procedure that is available on request. If you wish to register a complaint, please contact us either in writing, by telephone or email. Please be assured we treat complaints seriously. For your protection if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS).

Constant Finance is a trading style of Bespoke Mortgage and Finance Centre Limited which is an appointed representative of Sesame Ltd which is authorised and regulated by the Financial Conduct Authority.  FCA Register No 498914.  Country of Registration: England and Wales. Registration Number: 06864018. Registered Office: 25 Morgan Close, Yaxley, Peterborough, PE7 3GE.  Calls may be recorded for training and security purposes.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

© 2020 Constant Finance


Constant Finance