Situation:

A property developer is looking to borrow 70% LTV on a portfolio of properties in Oxford with a combined worth of £1,700,000. The gross monthly rent of the portfolio is £183,000 per annum.

The borrower’s broker approached Catalyst as they understood that we could provide finance to clear the portfolio’s previous Company Voluntary Arrangement (CVA) and lend against the portfolio of property in a new SPV (Special Purpose Vehicle). Although the borrower had good credit, the more complex financial situation surrounding the portfolio’s previous CVA, is why the borrower needed funding from a Specialist Lender, like Catalyst, and not a mainstream lender or high street bank.

Target:

The borrower required buy to let finance of 70% LTV of the property’s open market value, and funding was required as soon as possible.

Action:

The broker requested our Latitude Buy To Let product, as it is flexible enough to allow the purchase into a new SPV and clear the Company Voluntary Arrangement (CVA), but the Buy To Let product from Catalyst is still competitive enough to compete on price, with low entry fees, no ERCs or exit fees.

Result:

Catalyst supplied competitive heads of terms within 2 business hours, and the enquiry has moved to full application within funding to be delivered before Christmas 2024.