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Thursday, November 19, 2009

Struggling to get short/ medium term finance?

Are you struggling to get finance?

Following the withdrawal of many Buy to Let Lenders and the tightening of Buy to Let mortgages criteria, many property investors have found it hard to find finance. Those looking to purchase properties with cash and raise finance straight away have found it particularly hard to get over the "6 month ownership" rule.

Developers have also found that options are limited when looking to hold on to stock and arrange medium term finance to either release cash and / or repay development finance.

Have you recently purchased a property with cash and need to raise a mortgage urgently?

Have you recently developed or refurbished a property and want to now raise finance within 6 months?

Are you being declined by lenders because of the type of property you are looking to purchase or refinance?

Are you being restricted by the amount of rental income generated from your property?

If so, mortgage broker Mortgages for Business may be able to help. They now have access to a new Buy to Let mortgage product which will address the above issues and help many property investors and developers who are currently looking and struggling to find finance.

The Interest Rate is fixed at 6.99% for 3 years with no redemption penalties in the third year. Maximum Loan to Value is 70% and with rent to interest cover at 110% at the pay-rate, you should be able to achieve the maximum gearing if required.


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