ASC Recent Client Results
Overcoming the challenges of buy-to-let finance
ASC were recently able to raise finance for an experienced landlord in Nuneaton to purchase two terraced houses that had been converted into four flats on one title. He had initially approached his residential mortgage broker, who was unable to assist with his normal BTL lenders due to the multiple properties on one title. Fortunately, he then got in touch with ASC Finance for Business.
We were able to obtain terms, and a valuation at the full purchase price, and to progress the deal through towards completion. On the day of completion, however, our client was made aware that the vendor had not disclosed that one of the tenants had given notice, and that another, although up to date with their rent, had a history of defaulted payments in the past. We disclosed this to the lender, but with their help and some undertakings from the vendor and letting agent, it completed a few days later.
“Many thanks again for your hard work and help in getting the loan in place for the houses.”
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