The specialist distributor completed its first case with LendInvest after a client needed funding fast and was not able to secure a buy-to-let loan due to the condition of the property.
The house in Dorset had no working kitchen, bathroom or boiler, which made it unsuitable to mainstream buy-to-let lenders.
However, LendInvest was able to provide bridging funding for the client to allow them to purchase the property and carry out the necessary renovations.
The case was in Tier 1 of LendInvest’s new bridging product range, which are for more straightforward cases, and as a result was available up to 75% loan-to-value with interest rates beginning at 0.65%.
“This was really the perfect bridge, and is a great example of the sort of case that our Tier 1 product was designed for,” said Alex Kyriacou, business development manager at LendInvest.
“Deals that fall within this tier are available up to 75% loan-to-value, which is unusual in the current market.
“CSF’s case management team were terrific to work with – they went above and beyond to help us get this deal over the line.”
Jo Breeden, managing director of CSF, concluded: “LendInvest has an excellent reputation for competitive pricing and a speedy service, both of which were truly proven with this case.
“Our client needed the funds quickly and, by working closely together, we were able to secure the best possible result for them.”
Leave a comment