Client situation.
A broker introduced a client looking for funding for an auction purchase of a terraced house which was split into three self-contained flats. The client planned to refurbish the vacant second floor during the loan term, then split the freehold into three leaseholds to enable buy-to-let refinancing – a straightforward loan, but with complexity that required an understanding lender. This complexity needed to be assessed within the deadline for auction finance, meaning a quick process was required.
Our solution.
We assessed the client’s refurbishment and title-splitting strategy, offering the client the £158,600 facility they required at 65% LTV. Understanding the end goal helped us tailor terms that supported the entire project timeline. We worked closely with the broker and client to ensure the loan term would allow enough time for the planned leasehold creation, demonstrating our ability to think through complex property strategies from start to finish.
Result.
Eight days to completion enabled the auction purchase, and our flexible approach to deciding on the loan term supported the refurbishment and leasehold creation strategy. The client could execute their sophisticated investment plan knowing Lakeshield understood and supported the entire process. This case shows how specialist lending expertise can unlock complex property opportunities that others might avoid.
Complex strategies need experienced lenders – let’s discuss your unique requirements.