Mr.Padmanandan Nadesan works in a school as a Director of Mathematics. He is also one of our longstanding clients for business mortgages. So when he approached with a dilemma in his financial journey, we at GPS Finance were happy to roll up our sleeves and help him out of his predicament.
Mr.Nadesan was keen on purchasing a buy-to-let property. A buy-to-let property is a great addition to a well-balanced investment portfolio and therefore is a wise decision to take. Not only will a BTL property will prove itself a useful investment for Mr.Nadesan, but it will also help him draw an income in addition to what he earns as an educator in school.
Mr.Nadesan had locked on a property to make the purchase. However, the problem with which he approached us was the purchase was to be made under a very short time span. This was because his agent was mounting pressure to make the buy soon. If not, Mr.Nadesan had the risk of missing out on this property which would be grabbed by the next immediate buyer.
The challenge with which the client approached us at GPS Finance was raising huge funds under a short span of time. Since the stipulated time was very short, we had to come up with an efficient strategy cum solution to make the purchase for the client as easy and hassle-free as possible.
How we solved it
The client was undoubtedly in a complex situation here locked between the property of his dreams and securing huge funds to make the purchase. However, we at GPS Finance dived straight into formulating a successful approach that would work in this scenario. With our experienced team of experts, first we launched into analyzing the financial situation of the client.
Having gotten some valuable data inputs out of the same, our next phase of action was to find the best deal possible for the client. Our extensive research, network made it possible for us to close in on competitive solutions. Armed with further examination into the scenario, we suggested that the client take a buy-to-let loan against an existing deposit from a secured loan.
The GPS edge
At GPS Finance, we have been always proud of the fact that we provide solutions well under the stipulated time. And in this case, as the client was already in a time-crunching situation, our speed in closing in on a deal and raising funds was very much appreciated by the client.
Not only that, since we guided the client through a second charge loan, we were also able to provide the following two advantages to the client.
- Get the client a loan free of penalty charges
- Get the client a loan which was also free of early repayment charges (ERC).
- 3 Apr, 2019
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