We helped a client raise funds from a high-rise ex-local authority flat
The client in this case had attributes that some lenders can’t accommodate and a property that was highly complex from a criteria-fit perspective. The application was also entered into under tricky circumstances.
First of all the applicant was not a homeowner, they were living with family. Their investment in a rental flat was their only property. It was in a high rise block, had formerly been owned by the local council, opposite a pub above two coffee shops, a restaurant and a gym.
The client needed a buy to let remortgage for debt consolidation, which had arisen as a result of making updates to the property. The tricky part was that the client had mortgaged just…