Two of these properties were let out privately and a third was let out on a company let basis. A further obstacle for other lenders was that being professional property developers, rental was the key source of income.
Because Aldermore has no overall portfolio limit - and up to 5 properties (subject to a maximum total exposure of £2m) can be mortgaged with Residential mortgages - our Commercial Mortgages team were able to help with the additional Buy to Let properties, commercial and company lets. Our Residential Mortgage team were then able to assist by remortgaging two of the existing residential properties.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE