Case Study:
Large Mortgage /Short Lease
The Requirement:
A 1m loan against a property with a 12 year lease, and subsequent additional funding to assist with the 2m cost of the 90 year lease extension.
The Solution:
70% loan-to-value on the purchase price (1.45m), and then 70% of the 2m needed for the lease extension advanced within 6 months of completion. Facility cost was 3% over base on an interest only basis.
The Broker: Ian Humphreys
