Phone link
Phone link

Live chat

FIRST-TIME HMO LANDLORD PORTFOLIO PURCHASE

by Peter Davies on 20th May 2020

Houses

Client:

A successful, HNW businessman, looking to broaden his horizon of investments by purchasing a portfolio of high-yielding HMO properties with limited property experience.

Requirement:

Our client was introduced to us as he was looking for specialist finance to purchase a handful of HMO properties from the same vendor. He had successfully set up his own business from his living room, and grew it to a £14m turnover business – impressive stuff. However, having only one additional property that was consumer buy-to-let, meant that our original list of lenders whittled down quickly, and through a great relationship with our Landbay account manager, we were able to get them to understand the deal with a business viewpoint, and agreed the majority of deals for the client. However, the sticking points didn’t end there. The properties turned out to be complex leasehold houses, and some with incorrect HMO licences that needed amending, therefore time was not on our side. With an extremely experienced and responsive solicitor involved, we managed to press through all issues, even with all parties working from home due to Covid-19.

Facility:

Landbay offered a brilliant sense-checked option and were a delight to work with throughout. Through swift communication, efficient responses from both sides, and attentive support from all angles, we were able to complete most of the properties during lockdown with a view to picking the others back up and push them through extremely quickly as soon as valuations are up and running again. Overall, a great result for the client, and great work from our broker-team.

Broker: Peter Davies

peter

Written by Peter Davies

Partner

Starting his career in property and finance with Connells Estate Agents more years ago than he cares to remember, Peter was first employed as a sales negotiator before moving across into the Financial Services arm as a mortgage adviser. During this time he studied for, and passed, all three elements that make up the FPC qualification and in addition gained the CeMAP qualification. After 5 years with Connells he joined John Charcol in 2002. Based in the Canary Wharf office he remained with Charcol until joining Coreco in August 2009 shortly after the business was established. Better known as Taff, he now works within the Specialist team here at Coreco Towers dealing with the extremely varied requirements of their many clients.

Read more posts by Peter
DNA Shape DNA Shape

In case you missed it..


CorecoDNA

Overlay image

Personal

We know that all our clients are unique, and therefore the finance you require needs a different approach. We pride ourselves on providing a client focussed journey built around your needs and goals.

Overlay image
Overlay image

Professional

Our team always expresses their professionalism through their authenticity, high level of work ethic, and can-do attitude. We always find the best way for our clients to succeed.

Overlay image
Overlay image

Progressive

Our progressive and forward-thinking outlook allows us to guarantee an exceptional level of innovative advice and service, ensuring an effortless, client-centric journey in the ever-changing financial world.

Overlay image

CorecoContact

Want to talk to us?

Fill out the details below to start a conversation with one of the team.

    https://www.corecocommercial.co.uk/privacy-policy

    CorecoReviews

    Advice you can trust