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SPV limited company with a director that has acquired adverse, adds to portfolio

A complex buy-to-let case study

Objective

An SPV limited company with 15 properties in its portfolio for the last 2 years, and had not add to it since, was looking to purchase a property at £500,000 with a deposit of £125,000 (75% LTV).

 

Obstacle

One of the directors had 2 defaults that were registered 18 months ago, at a total value of £8,500.  The same director had also accrued arrears on various credit cards.

 

Outcome

Brightstar worked closely with the client, broker and lender and were able to source a 5 year fixed rate product at 4.29% with only a 3 year ERC applicable.

 

This case is due to complete in April.

 

READ MORE about the scenarios we’re able to assist with

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