Most commonly used when the client wishes to purchase another property whilst their existing one is being sold.
It can also be used to release equity quickly for debt consolidation, business injection, purchase investment properties and home improvements. High street lenders generally work off the discounted purchase price when assessing their advance levels. We always work off the Market Value of the property so this is advantageous for the client when purchasing at a discounted price or a sale at a price under the Market Value of the property.
Criteria Market Value 80% (subject to criteria) Multiple properties Timber / Steel framed Council flats Barn Conversions Buy To Let Auction Family purchases Builder/vendor gifted deposits