Refinance of 1st Charge Mortgage and Bridging Finance for a 2nd Charge

The Requirement:

A client was expanding their Buy-To-Let portfolio with a property in Holland Park, London, but had been let down by a previous broker and was left unsure what was possible.

The Interesting Stuff:

There was an existing 1st charge mortgage on the property and the client was looking to refinance that as the rental income began to fall slightly short of what was needed. However their previous broker (not from NapeX Finance) let them down as they had failed to secure the refinancing request.

We stepped in and reviewed the situation, and worked alongside the client to determine what solution was best. We sourced a specialist lender on a prime rate which allowed us to utilise the clients external income as evidence that they could cover the shortfall if needed.

The client was able to secure the refinance on the 1st charge mortgage, as well as secure bridging finance on a 2nd charge mortgage to help with the property.

How we helped:

This certainly was a complex finance request, but with our skills and experience, we were able to secure the funding for the client.