Foundation Home Loans has supported a first-time buyer and first-time landlord with purchasing a licensed seven-bedroom HMO in Bristol.
The property was purchased for £660,000 with a 75% LTV mortgage arranged through one of Foundation Home Loans’ specialist HMO products.
The client is currently renting and was seeking to begin building a property portfolio as a long-term investment strategy.
Grant Hendry, director of sales at Foundation Home Loans, commented: “This is a perfect example of how we work with brokers to find solutions for cases that fall outside standard criteria.
“Such a case would often be declined outright based on the client being both a first-time buyer and landlord.
“Fortunately, we had worked with the broker before and they trusted us to assess the case on its full merits, rather than being restricted by headline criteria alone or dismissing it at first glance.
“The client’s strong financial position, clean credit history and well-structured management plan allowed us to offer a suitable solution through one of our specialist HMO products.
“And that’s the beauty of specialist lending, its understanding of the individual, not just working through a checklist.
“It’s about being positioned to support creditworthy, capable borrowers in a responsible manner.”
