| Property | Purpose-built freehold block of ten flats |
|---|---|
| Location | Hackney, East London |
| Client | Family investment company with one shareholder living overseas |
| Product | Multi-unit freehold blocks |
The challenge
The loan size and overseas shareholder narrowed the lender options. Two of the flats were on long leases sold off by a previous owner, which complicated the security.
What we did
We approached specialist lenders comfortable with larger blocks, overseas shareholders and mixed tenure. The lender took security over the freehold and the eight let flats, with the two sold leases reflected in the valuation. We prepared a full company structure chart and source-of-funds pack for the overseas shareholder.
The outcome
The family company completed at 65% LTV, leaving room in the deal for future works.
Multi-unit freehold block mortgagesFinance for freehold blocks of flats on one title, from small conversions to larger blocks.
Learn moreImportant: Most buy-to-let mortgages are not regulated by the FCA. Your property may be repossessed if you do not keep up repayments, and a receiver of rent may be appointed.