Case Study –Leveraging Existing Buy-to-Let for New Property Purchase

Property Value	£230,000
Loan Amount	£173,000
Location	London
LTV	75%
Achieved Rate	3.89%
Completed	January 2023
Adviser	Hasan Acik

The Client

Our client with a buy-to-let mortgage had utilised the product transfer service with her existing lender for many years. However, she recently expressed her desire to extract equity from her existing property to invest in another buy-to-let property purchase. Unfortunately, she encountered a challenge with her existing lender’s criteria, as the property’s size was below the minimum required floor space.

The Solution

With extensive experience supporting clients who own properties with unique characteristics, I was able to successfully source a high street lender for our client. The lender we found had no minimum floor space requirement as the property was located in London. As our client had no prior knowledge of this aspect of the lending criteria, she was thrilled that we were able to leverage our expertise to provide her with the best possible outcome.

The Henry Dannell Difference

Once we identified the most suitable lender for our client, we made sure to engage with the underwriter immediately to advise that the property in question was located in London. As a result, the valuation was instructed immediately without any unnecessary delay. After a thorough review, the mortgage was offered to our client, who was elated to receive the requested funds that would enable her to purchase the new property. We were thrilled to have played a role in facilitating this successful transaction for our client.