Together has supplied a £1.25 million funding facility to a buy-to-let investor let down by their traditional mortgage provider.
The experienced investor needed to raise between £1 million to £1.25 million to clear a second charge loan of £600,000 and purchase a new property to add to their buy-to-let portfolio.
The customer had first approached his previous mortgage lender, Coutts, for a further advance but was declined, as the loan requirements didn’t fit the traditional bank’s lending criteria. The entrepreneur had a £4 million buy-to-let property as security, with a current loan-to-value of just 18%.
Working in partnership with secured loan specialist Pink Pig Loans, Together delivered a finance solution which met the individual needs of the customer.
Gary Bailey (pictured), sales director at Together, said: “At Together we are committed to providing access to much-needed finance through our network of partners and Pink Pig Loans did a great job in providing all the details required for us to assess the case. This allowed us to react quickly and ensured that they could deliver a high quality of service to the client.
“Our flexible approach means that loans can be tailored for complex scenarios and our team of finance experts have the knowledge to deal with individual cases which don’t fit into the restrictive criteria of traditional mainstream lenders.”
“Working in partnership with Together, we recognized this loan was affordable and sustainable and were able to deliver an effective solution to this successful buy-to-let entrepreneur who otherwise wouldn’t have been able to access the funding he needed to grow,” added James Rainbird, managing director of Pink Pig Loans.
“We look forward to providing more of this flexible finance in the future and helping our customers unlock future potential.”