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1:I have a client who has been given the opportunity to buy a national lenders fleet of show houses. The MV is £100M and they have been offered the whole lot for £50M. They have some deposit and have a guaranteed income of 8% from the vendor on the full £50M. Any ideas on who will do it and what the highest loan to value will be available.Thank you in anticipation of your response.
Wednesday 17th December 2008
A lot more detail needs to be disclosed in order to take a view on this. Who is the borrower; how much equity are they prepared to put into the deal, what is the take-out route, to name but a few. Once the full enquiry is received we will be in a position to comment.
2:I am looking for a losed bridge, the properties are in scotland. The first property has been sold for £260k with outstanding borrowings of £210k this is due to settle on 27th February. I have two other properties. The first has just been purchased for £330k with a mortgag of £247k with the one account. and the other is a buy to let property valued at £120k with a mortgage o/s of £71k. I require to release the £50k which is due when my sal of property 1 completes in order to do additional work to the new property I have purchased. Any suggestions?
Tuesday 9th December 2008
The Loan to Values are a little too high for us. Does the client have any sufficient additional security available? (Affirmative Finance)
3:is anyone providing briding loans on land with full planning permission at the moment?
Thursday 4th December 2008
Yes, we would need to see the full details on a decision in principle form and should be able to help. (Affirmative Finance)
4:I need a 10/11 month bridge of £60K for a client secured against aproperty valued at £375K with O/S mortgage of £220K.
Thursday 4th December 2008
Very few bridgers currently do 2nd charges - especially at 75% LTV. An option might be to approach a bridger and let them redeem the current outstanding first charge with an additional 60k on top, subject to underwriting. [Ryneveld van der Horst]
5:My clients parents has an equity release via N Rock £250K (now £300K) on approx £2m.Mother has died and father is in care with Alzheimers and his pension is insufficient to cover care fees. Also funding needed to maintain house until sold- estimated £150k required. Can they borrow £450k on £2m on a roll up basis until sale completes?
Tuesday 25th November 2008
This case would need to be looked at carefully and certain questions need to be answered. I would be happy to look at if a fully completed decision in principle form can be completed. (Affirmative Finance)
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