Specialist debt advisor Arc & Co., in collaboration with expert defects insurance broker London Belgravia Group, has arranged a new £450,000 mortgage from West One for a barn conversion in Gloucestershire on behalf of a private client.
The client had previously told that the property was unfinanceable due to it being built five years ago without a professional consultants certificate (PCC) or warranty in place. London Belgravia sourced a bespoke warranty, while Arc & Co. liaised with West One to ensure it would be acceptable for mortgage purposes before it was purchased.
As a result of the strategic partnership between Arc & Co. and London Belgravia, the client was able to secure the mortgage at competitive pricing, while parallel sharing of information and valuations mean the loan was agreed to a tight timescale. The mortgage was agreed at 5.44% fixed for five years.
Gareth Briggs, head of UK residential mortgages at Arc & Co., said: “It is hugely pleasing to have arranged a mortgage for a property that the client had previously been told was ‘unfinanceable’. With no warranty or PCC in place, there were significant barriers to be overcome, but thanks to the close working relationship between Arc & Co. and London Belgravia, we were able to reach a result that worked for everyone. We look forward to further collaboration with London Belgravia.”
Giles Fallan, CEO of London Belgravia Group, added: “This deal perfectly illustrates the benefits to clients of the strategic partnership between London Belgravia and Arc & Co. By combining our expertise and collaborating on such deals, we have reached an innovative solution that has resolved an issue that had caused considerable concern for the owner. Our relationship with Arc & Co. is all about combining complementary capabilities, and it is fantastic to see the partnership delivering for clients.”