High Value Property Remortgage to Raise Capital for Investment

2.10.2006

An existing client of ACL wanted to raise capital against his home to allow him to expand his property portfolio over the coming months and years. His home was worth in excess of £5 million with an existing mortgage of £750,000. He wanted a facility which he could draw against as and when required without the laborious underwriting process each time.

We were able to arrange a base rate tracker flexible mortgage on an interest only basis at Bank Base plus 0.55% for the full 25 years term which was less than his existing mortgage. The facility was agreed to 75% of the value of his property which paid off his existing mortgage and gave him access to a £3 million facility at the same low rate of interest (charged on the daily balance) and the flexibility to draw down or pay out by cheque book without lenders approval or pay back without any penalty. This effectively made him a cash buyer for any future property purchases he wished to make.

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