Buy to let
Case Study
How we helped
Nick and Judith have been musicians for most of their lives, with inconsistent income patterns, but are now professional landlords. As such, the vast majority of their income these days is rental income from property, apart from a small amount of employed work they have recently started following the significant changes in the Buy-to-Let tax rules. They approached us to remortgage their portfolio so that they could raise funds to make improvements to some of the properties.
They have a portfolio of four properties which means that they have to jump through a significant number of hoops with most lenders, particularly as their loan size is reasonably high at £750,000, and their other income is low. However, we were able to find a lender to place their mortgage with who made their lending decision based on their history of rental income and their case completed with relative ease.
Our investment properties drive a good level of rental income for us, but our income from other work is not enough to finance our property commitments in the standard way. This was merely a challenge for Darren at eddge to rise to, which of course he did. He found a lender happy to make a sensible decision based on our rental income and we were able to remortgage the portfolio and release the funds we needed to make some improvements. Having an independent mortgage broker, particularly a good one, is something everyone should have on their side. We would happily recommend Darren and eddge to anyone.
