Client: Sarah, an experienced property investor, was seeking to expand her portfolio by purchasing a non-standard construction property, a converted Victorian schoolhouse.
Challenge: Securing a buy-to-let mortgage for a non-standard construction property can be challenging due to the perceived higher risk associated with these types of properties. Many lenders have stricter lending criteria for non-standard properties, and they may require additional surveys or valuations.
Solution: Sarah approached Portman Rise, a specialist mortgage broker with extensive experience in securing buy-to-let mortgages for non-standard construction properties.
Portman Rise's Approach:
Property Assessment: Portman Rise conducted a thorough assessment of the property, considering its unique characteristics and potential risks.
Lender Selection: Portman Rise carefully selected a panel of lenders with a proven track record of financing non-standard construction properties.
Negotiation: Portman Rise skillfully negotiated with the selected lenders on Sarah's behalf, securing a competitive mortgage rate and favorable terms.
Outcome: Through Portman Rise's expertise and unwavering dedication, Sarah successfully secured a buy-to-let mortgage for her desired non-standard construction property, enabling her to expand her investment portfolio with confidence.
Key Takeaways:
Seek Expert Guidance: When dealing with non-standard construction properties, it is crucial to seek guidance from experienced mortgage brokers like Portman Rise.
Understand Lender Requirements: Familiarize yourself with the specific lending criteria and requirements for non-standard construction properties.
Thorough Property Assessment: Ensure a comprehensive property assessment is conducted to identify any potential issues or risks.
Patience and Persistence: Securing a mortgage for a non-standard construction property may require patience and persistence. Work closely with your mortgage broker to navigate the process effectively.