Phone link
Phone link

Second charge secured on two buy to let properties

by Jessica Bellingham on 15th January 2018

House

Second charge secured on two buy to let properties

 Our client, a retired buy to let investor with 20 years’ experience, owned four properties with a total portfolio value of £2.5m. The client wanted to raise £430,000 to pay a large tax bill but did not want to service the interest as this would negatively impact his cashflow.

The client was able to raise the money he needed as a second charge loan with rolled up interest, secured on two of the properties in his portfolio, which were collectively valued at £1.4m. The term of the loan was two years and the annual interest rate was 7.99%.

As interest was rolled up, there were no payments due on the loan, and so no impact on the client’s cashflow. The client will repay the balance off at the end of the term by selling one of the properties in his portfolio.

Written by Jessica Bellingham

Marketing Manager

As Coreco’s Marketing Manager, it is Jess’s job to ensure that Coreco’s values and amazing brand are visible, consistent, and easy to find for anyone looking to buy a home. From the Coreco website and social platforms to all digital communication, Jess works to spread the word of Coreco and ensure that all customers, from the moment they search for Coreco in Google to when they purchase a home, have a great experience.

Read more posts by Jessica
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