Case Study – BTL Fishguard


Case Overview

Type of Loan – Buy to Let

Purpose of Loan – Refinance to Capital Raise

Security – 2 bedroom terrace in Fishguard

Value of Loan – £108,750

Details & Difficulties

Time taken from submission to completion – New case came into the practice on the 5th February for assessment, application put through to Precise Mortgages on the 13th February and the cases completed on the 28th March.

The security is adjacent to the applicants residential – Some lenders will refuse applications on this basis.

One applicant had an outstanding tax bill that needed to be cleared prior to the offer.

The valuation came in at £10,000 lower than anticipated so the available loan was reduced accordingly.

Had to take a 5 year fixed rate due to the rental stress test.

Partner Commission

Gross Fees Generated – £1631.25

Lender – Precise Mortgages

Any Subsequent Fees/Opportunities as a result – client also currently has a commercial application with us to refinance their commercial property