Landlord Case Studies

2009 has been a year where lenders have been out of the market, unsure of their positioning or just short of money. The result has been that credit has been difficult to access and the terms and conditions have been significantly different from the headline days of 2007; those lenders with readily available funds have tightened policy and taken advantage of their stronger position to increase margin and fees.

It is all the more important to be confident that your transaction can be funded to the right level and in the timescale that you need. We are purposefully displaying recent cases so that you can see what terms are today rather than time past and you will note the month in which each transaction was sanctioned by the lender.
 

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• New Build properties in the name of a Limited Company (December 2009)

  Having completed a couple of new build houses, the developer decided to keep hold of the properties rather than sell them in a depressed market. The properties were held in the name of his Limited Company.

• HMO with works required before letting (Dec 2009)

  Applicant approached us looking to purchase a House of Multiple Occupation. Works were required to bring the property up to standard and to obtain the necessary licence from the local authority. The dilemma here was that funding was required to assist in the purchase albeit that the property was not in a position to generate the required income from day one.

• Refurbished Flats over a Café & Tattoo Parlour! (November 2009)

  An experienced landlord had recently purchased and renovated two leasehold flats above a parade of shops, along a busy main road into South London.

  He had already encountered difficulty in raising finance because one of the adjacent commercial premises below was a cafe and the other a tattoo parlour. Also, he had owned the flats for less than 6 months.
   

• Property in need of TLC! (November 2009)

  This landlord contacted us via the internet as he needed assistance in purchasing a purpose built flat, in a good location, in need of some refurbishment to make it habitable.  He had sufficient capital to fund the work but didn’t want to tie up all of his cash long term.

• Holiday Let Purchase (October 2009)

  Client approached MFB to fund a holiday let in the Lake District.

  The challenge here was that the provision of funds for holiday letting has been severely restricted by buy-to-let lenders in the last 18m. In addition we needed a lender that would consider the holiday letting income rather than assess the borrowing amount based upon a single ‘family let’ basis. To compound the issue the client was working abroad for a multi-national company.