Limited company remortgage arranged for investor refinancing two auction properties purchased using bridging finance

Client profile

Our client was a property investor who operated a limited company set up for property purchases. In this case, the application was for a limited company remortgage involving two recently acquired investment properties.

The challenge

The client had recently purchased two properties at auction, using bridging finance to complete both purchases quickly.

As is often the case with bridging finance, they wanted to exit the bridge as soon as possible and move onto a longer-term buy-to-let solution. Timing was therefore important.

The main complication was with one of the properties, which was located on the fifth floor of a building with no lift. This fell outside the criteria for many lenders, meaning that while refinancing one property may have been straightforward, finding a lender willing to accept both properties under the same case was much more challenging.

How Trinity Financial helped

After the client found us online, we reviewed the structure of the case, the limited company setup and the property details to identify lenders whose criteria could accommodate both properties.

A number of lenders would not accept the fifth-floor flat because the building had more than four floors and no lift, which significantly narrowed the available options.

We were able to source a lender that would accept both properties and arrange an interest-only buy-to-let remortgage through the client’s limited company, allowing them to repay the bridging finance and move onto a more suitable long-term solution.

The result

We successfully arranged the remortgage for both properties on an interest-only buy-to-let basis. This took the pressure off our client, as he was worried about the accumulating interest costs of the bridging loans. 

While the rate was not especially standout in the wider market, it reflected the specialist nature of the case and, crucially, this was the lender that could accommodate the criteria across both properties.

Outcome for the client

• Limited company remortgage arranged
• Two auction properties refinanced from bridging finance
• Interest-only buy-to-let solution secured
• Lender sourced that accepted a fifth-floor flat with no lift
• Client able to exit bridging finance quickly
• Long-term finance put in place for both properties

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The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

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