Hampshire Trust Bank completes £758,000 buy-to-let purchase loan in three days
Hampshire Trust Bank’s Commercial Mortgages team has provided a £758,000 loan to a buy-to-let landlord in London to fund the purchase of an investment property in three days.
Brokered by Berkhamsted-based broker Specialist Commercial Finance, the facility, which has an LTV of 70%, was turned around in three days from formal offer to completion.
Tony Sutton, managing director at Specialist Commercial Finance, said: “The customer had a tight completion deadline after being let down at the last moment by another lender.
“This was a case where everyone – the client, introducer, packager, lender and solicitor, had to pull out all the stops and work together to ensure completion took place in the limited time available.
“It is refreshing to see a lender and their solicitor work so hard to achieve the right customer outcome and the staff at Hampshire Trust Bank went above and beyond. ”
Anna Lewis, head of sales, Commercial Mortgages, Hampshire Trust Bank, said: “We are focused on providing a great service and meeting tight deadlines to ensure the end customer achieves their acquisition.
“The buy-to-let sector moves quickly and it is vital that we have the right team internally and solicitors in place to complete deals in the time required.
“We are delighted that we managed to turn this around quickly and are looking forward to continuing our strong relationship with Specialist Commercial Finance, who worked hard to streamline this process.”