Featured, Mortgage Guide
Our client was a married couple with a portfolio of 30 buy to let properties. They were renovating two of these properties and wanted to raise £250,000 to pay for the cost of the works, but they did not want to negatively impact their cashflow.
Their main residence was a six-bedroom detached house in South West London, valued at £3m, with a small first charge of £560,000.
As the funds were being released for a legitimate business purpose – to invest in the couple’s buy to let portfolio – we secured a second charge loan on this property with a lender that was able to roll up the interest. This meant that no regular payments required to service the balance and so the loan did not impact their cashflow.
At the end of the two-year term, the repayment method for the loan was refinancing properties within their buy to let portfolio.
Julian is one of the mortgage industry’s true legends, following his passion through thick and thin to run our highly successful Specialist Finance division.Having always had an interest in property and initially part qualifying as an Architect, Julian decided to join the Financial Services industry in 1989, cutting his teeth at John Charcol in the early 1990’s. After opening their Guildford Office, Julian left to spend time assisting High Net Worth individuals with tax efficient investment schemes.In 2000 he jointly founded the boutique Mortgage Brokerage Cobalt Capital. As the managing partner of Cobalt Capital and at the centre of its growth, the company expanded to a peak of 90 staff and developed into one of the leading mortgage brokerages in London.With more than a growing interest in the specialist and commercial sectors of the mortgage market and a determination to obtain finance on the seemingly impossible, Julian decided to follow his passion and invest into Coreco, becoming a Director in 2010.His aim is to drive this business forward to become one of the strongest specialist finance teams in the industry, focusing on large residential loans for development/investment purposes and large property portfolios.Julian is also a proud member of the FIBA Executive Committee.
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