Very happy client and accountant

We recently helped a client to purchase a main residence who had been renting for many years. There were numerous challenges with the case, and the client had struggled to find a lender who could assist before being introduced to Capc by her accountant, a tag member. 

The client was Aged 66 and required an interest only facility with a term beyond normal retirement age and no significant pension provisions.  She wished to purchase a property for £2.1m and to borrow circa £1.2m on interest only.  Whilst the client had £1.7m in cash they did not want to put all of the available funds into the purchase and lose liquidity.

Further challenges included multiple sources of income including a development company which had sporadic income / profits due to the cycle of projects completing. The most recent accounts showed a loss of over £100k, whilst the previous year profits of showed c£490k. There was also a partnership profile that included 7 partners, a Family investment company and liability to run a holiday home . 

We were able to work with a lender who used management information and projections to support profits and affordability and could also monetarise the cash balance to help achieve the level of borrowing required. 

The rate secured was a competitive 4.59% on a full interest only basis.  

Very happy client and accountant. For more information please email info@tagcommunity.co.uk