Albatross Capital were approached by an elderly couple with whom owned a BTL property on their farm land in Bodmin. Their mortgage facility had come to the end of its term and the client was unable to refinance due to their age. Their existing lender was threatening to re-possess the property if their facility was not to be redeemed. The client required our assistance to clear their mortgage provider and thus allow 12 months to sell the property on the open market, as opposed to accepting a much lower value at auction. Albatross Capital were required to move exceptionally quickly and following a valuation which came in at £400,000, were able to present an offer to the client within 48 hours.
- Loan amount: £195,450
- Loan to Value: 49%
- Term: Minimum 6 months, maximum 12 months
- Exit: Sale