Arc & Co. Secures Mortgage for Self-Build Client
Deal:
Client had been let down by another broker, who had assured him that it would be fine. Client started the work on the basis that money would be coming and then the deal with Hanley BS fell through.
Client had a partially built site and had run out of cash. He was director of four companies and had a very complex set of income streams, including a directors loan whereby he had taken the bulk of his income in the last three years. This had now stopped, but his tax returns were very low.
Solution:
Alistair placed this Harpenden BS who took a view on the clients share of net profit in the companies, and were happy to ignore the directors loan.
The site was worth £450,000 partially built, with an end value of £950,000.
We funded a deal of £250,000, with funds released in three tranches as the property increased in value.
4.39% self build mortgage with no early repayment charge.
Clients were delighted with the outcome.
If you wish to learn more about your residential mortgage options, please feel free to contact Alistair.
Alistair Hargreaves
Financial Consultant
Arc & Co.
30 St George Street, London, W1S 2FH
Office: +44 (0) 203 205 2129
Mobile: +44 (0) 796 750 9318
Email: alistair@arcandco.com