remortgaging a small block of serviced appartments

crisp

I would like to remortgage a small block of serviced appartments (21 rooms) in London.

Recent valuation £4m. Current mortgage outstanding £3.1m and I would like to repay this amount.

Rental income £450,000 gross and £350,000 nett.

thanks

AndrewSmith

Who is the current mortgage with and on what terms and conditions?

On what basis are the apartments currently let?

Why are you looking to re-mortgage?

Cheers

Andy

crisp

AndrewSmith wrote:

Who is the current mortgage with and on what terms and conditions?

On what basis are the apartments currently let?

Why are you looking to re-mortgage?

Cheers

Andy

first county. bridge
short term lets
to reduce rate of interest

crisp

can anyone assist here?n thanks

AndrewSmith

crisp wrote:

can anyone assist here?n thanks

Just waiting for a call back, should be later today.

Will post when I have the details

Andy

AndrewSmith

Ok,

There are a couple of options available, but it depends on some firther details as to which is going to be the best way for you to go.

If you could either post or PM replies to the following I should then be able to be more specific.

1) Can you clarify the terms of the current letting? IE corperate lets, private, and how long is short term?

2) Do you own the apartment block freehold or leasehold?

3) How long are you looking to take the new finance over?

4) Your date of birth and name?

As I said if you dont want to post these details publically you can PM them to me.

Many thanks

Andy