Repossession market
This growing market offers a solution to homeowners facing a crisis with their mortgage payments and in turn enables the purchase to acquire a property at below market value with usually a model tenant.
Bridging finance is utilised quickly by the client to purchase the property of the vendor who faces repossession. The mortgage bridging finance payments can also be rolled onto the loan so that cash flow is not an immediate problem.
The investor then becomes a landlord by buying the property from the client at a price below the market value. The investor can later refinance this house to enable further acquisitions.
The former house owner is then given the opportunity to remain in the family home as a tenant. At Mayfair Consulting we can help investors source the perfect bridging finance package and subsequent remortgage of the repossession property. Our expertise in this field has won us the prestigious what-market award for best broker 2003, 2004 and 2006. Our strong team of advisors have the specialist knowledge and the industry contacts to help you achieve your buy to let goals. Mayfair – a name you can trust!
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 7.1% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There may be a fee for the mortgage advice. The precise amount will depend on your circumstances, but we estimate it will be 1.5% of the loan amount with a minimum fee of £500 added on to the loan.
Mayfair Consulting Limited is an Appointed Representative of The Mortgage Times Group Limited, 279 Tottenham Court Road, London , W1T 7RJ , which is authorised and regulated by the Financial Services Authority no. 303007.
