MULTI-UNIT BLOCK OF FLATS

The Background

Our team was approached by a seasoned property developer and landlord seeking financial guidance. The client owned several properties, including an eight-unit flat complex that was approaching the end of its early repayment charge period.

The Challenge

The existing financing arrangement was structured with full capital and interest repayments at a variable rate. Meanwhile, the Bank of Interest had recently initiated interest rate hikes, raising concerns for our client. She feared missing out on securing the best possible rate.

The Solution

Collaborating closely with the client, we swiftly initiated the application process, locking in the most favourable interest rate available. But that’s not all—we strategically partnered with a lender who assessed the block’s value based on the sum of the individual flats, rather than a discounted block valuation. This approach significantly boosted the security’s overall valuation.

To top it off, the completion was carefully timed to coincide with the expiration of early repayment charges from the existing loan, ensuring our client avoided unnecessary fees and charges.