Five Days to the Finish Line: Rapid Funding for a Buy-to-Let Investor

Project Background:

Our client needed to raise £243,000 against an unencumbered, mortgage-free buy-to-let property in order to fund a new auction property purchase.

The target property was part of the client’s existing portfolio, valued at £375,500, giving a loan-to-value of just under 65%. The exit strategy was secure, as the new property had already been sold, providing confidence for both client and lender.

Challenge:

The deal faced several complexities:

• Lender delays had slowed the process initially.
• The property was owned by a limited company, so Independent Legal Advice was needed.
• Separate representations added additional legal complexity.
• Despite these hurdles, the client needed a swift completion to secure the auction property investment.

Solution:

Working closely with the lender and leveraging the client’s existing investment property portfolio, we were able to overcome the initial delays.

The funding was secured against the buy-to-let property at under 65% LTV, with all legal and ILA requirements handled efficiently. We managed to complete the transaction in just five days once the offer was in place.

Outcome:

With the finance in place, our client successfully proceeded with the auction purchase without disrupting their existing portfolio.

Key results included:

• Quick turnaround from offer to completion (5 days)
• Funding secured on a mortgage-free property
• Legal complexities and ILA requirements managed smoothly
• Secure exit strategy already in place, reducing risk

This case demonstrates Propp’s ability to navigate complex lending scenarios and deliver swift, practical solutions for property investors.