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by Peter Davies on 20th May 2020



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


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.


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


Written by Peter Davies


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.

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