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Experienced, pensioner landlords refinance a multi-unit property - September 2012

Case study Synopsis
Our clients, a husband and wife team in their early seventies who have been business owners in the beauty industry for 30 years, have a small portfolio of five properties in the London area, valued at approximately £1.3m with circa £700,000 owed.

They are looking to refinance a terraced house on a single freehold title split into two self-contained flats, both with ASTs in place providing a cumulative rental income of £2,500.

Keystone Buy to Let Mortgages was able to help as it is one of the few lenders happy to accept applications from borrowers up to 85 years of age.
Property value £380,000
Loan agreed £186,000
LTV 49%
Product Multi-unit Buy to Let for Private Individuals
Rate 3 year fixed rate 5.33%
Term 10 year interest only
Lender arrangement fee 2.50%
Warning: Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage.