Loan amount: £196,950
In this BTL case study, we were approached by our Broker Partner, Nurture Finance with a client looking to refinance their BTL property in Truro, Cornwall. They hoped to raise these funds to assist with the construction of a new investment property and to help towards the repayment of a director’s loan.
Our underwriters worked closely alongside Nurture Finance (who primarily specialise in Buy-to-Let) to ensure a quick and fluid process from the initial application to completion. We provided just under £200,000 at a 73% LTV in 25 working days, with a formal offer being provided in 17 working days. Not only was the case completed in such a small time frame, but an Automated Valuation Model (AVM) was used saving the client £340.
The client was delighted with our speedy process, which meant that their construction costs were covered with as little stress as possible and the director’s loans were paid off earlier than expected.
Adam Atkin, CEO of Nurture Finance, said “From start to finish the application was smooth, faultless and well received by my client - who had very different lending experiences in the past. Shawbrook and Nurture Finance restored some faith in the lending process and secured a long-term relationship with a client with a growing property portfolio.”