The client — who is the director of a limited company — required the loan secured against his family home to move offices and upgrade his company’s IT systems.
The house was a leasehold property in the grounds of a former university which had been redeveloped into a luxury housing complex.
Together provided the client with its homeowner business loan product after its specialist underwriting team received confirmation from the freehold owner that the house and its grounds had been maintained to an agreed standard.
- B&C roundtable: Are hybrid offerings an opportunity or necessity?
- Together introduces eTech BTL hub technology to broker network
- Together provides £2m re-bridge in four days
Packager Intelligent Loans — a member of the Together+ initiative — brought the case to Together on the businessman’s behalf.
“It was a fantastic outcome for the customer, who was delighted at how hassle-free the process had been,” said Rachel Gibbs, second charge adviser at Intelligent Loans.
Nick Jones, national sales manager at Together (pictured above), added: “The client’s homeowner business loan will allow the customer to expand; setting up the new premises and bringing in new IT infrastructure to strengthen his business for the future.”