The Mortgage Lender (TML) has completed two BTL cases in two weeks for a landlord in need of specialist underwriting.
Agreed at 65% and 63% LTV, the 23-year term loans for two residential BTL property purchases — one at auction — have a two-year tracker rate of 5.36%.
Mortgage broker Connells and packager Dynamo for Intermediaries were able to process and package the cases quickly, with the first case offered in 10 working days and completed in 14.
The second was offered in 12 working days.
The loans will be repaid through the sale of the properties.
Louise Apollonio, head of corporate accounts at TML, said: “Anil [Mistry, broker at Connells] has a deep knowledge of our business and knew we had the capability to deal with a case of this complexity.
“Combining this with Dynamo’s expertise and understanding of what our underwriters need to progress an application meant that we could reach an offer in a matter of days.”
Anil added: “This was a complex case where the client had already been struggling to find finance for the purchase of these two new properties.
"Our relationship with the TML team and knowledge of their business meant we knew they were the lender for the job.
