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An experienced landlord with a portfolio of high value properties who was looking to re-mortgage two properties in one premises, provided Madhu Aggarwal from Milton Independent Financial Services a niche funding challenge.

Key points:

  • Experienced full time landlord
  • High value properties
  • Exposure issues
  • Freehold Transfer during completion process
  • Two flats in the same property

High value – big exposure

Madhu's customers' portfolio consists of a number of high value properties  situated across the South East of England, but despite the high levels of income generated from the portfolio many lenders were not able to provide the funding required as both properties were situated in the same premises and both were of high value, providing challenges surrounding exposure concerns.

Knowing the challenges around the application Ms Aggarwal knew that Aldermore would be the lender to place her customers with.

Complex problem – easy solution

There was also the added complication of a Freehold transfer required on both properties.

Madhu told us she was especially pleased with Aldermore’s service on these transactions, having progressed a high value and exposure case quickly and efficiently. A complicated completion situation did not slow down the matter either, with a need to transfer properties to leasehold during the completion process. Aldermore’s service meant that the customer’s pressing deadlines were met and he was able to meet his other financial commitments reliant on this.

The underwriting team for Aldermore took the time to understand Mr Bhattachrya's exposure position, the freehold transfer issue and the remortgaging of two properties in the same block to ensure that Madhu and her customer could complete the application quickly and successfully.

Always reliable

Madhu admits that when she is approached by her clients to seek out mortgage deals with a degree of complexity to them she always knows that Aldermore are a lender who she will approach. 

See what our Bank can do for you…

If you would like to find out more about how Aldermore could help you achieve your property aspirations, you can read more by visiting www.aldermore.co.uk/buy-to-let or you can speak to one of our team of Buy to Let experts directly by calling 0333 321 1001.

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