Customer Profile
Broker had a client which had a large portfolio of properties that consisting of both residential and commercial property investments. The client wanted to simplify their mortgage structure and also save money.
Scenario
The broker’s client has several properties within the portfolio value of over £2.5m that were with different mortgage providers and were on high rates of interest. These needed regular refinancing and at different dates. We were tasked with placing all the properties into one blanket loan with one provider to use the equity across the portfolio to reduce risk and costs as well as simplifying management of the portfolio in the future.
Brilliant Solution
We had a loan agreed at £1,465,740 with the one lender covering the full mix of residential and commercial properties in the portfolio. It was a lower rate, saving money, and raised enough to refinance all existing mortgage debt across the mixed portfolio. This was achieved using the equity across the portfolio which enabled us to move some property away from lenders with high rates of interest.
Result
The broker’s client reduced their monthly mortgage payments by reducing risk and thus reducing the rate of interest payable. Placing the portfolio under one lender and one loan made the portfolio easier to manage going forward.
This solution simplified matters greatly for the borrower and reduced their monthly payments significantly.