The dream of owning a property is a common aspiration for many people, but the journey towards achieving it can be challenging, especially for first-time buyers and landlords. This was the case for a client who approached specialist mortgage broker Rob Holmes for assistance in purchasing a property worth £355,000 with a value of £700,000 after works. The client had no cash available for the purchase, which presented a significant challenge.

Rob Holmes is a specialist mortgage broker with extensive experience in providing bespoke solutions for clients facing unique and complex situations. He listened to the client's needs and devised a plan to help them purchase the property without any cash upfront.

The client was a first-time buyer and first-time landlord, which made it difficult to secure a traditional mortgage. Additionally, the client's lack of cash reserves meant that many lenders would not consider their application. However, Rob Holmes was able to provide a solution that worked for the client.

Rob Holmes secured a mortgage that covered 100% of the purchase price plus legal fees and stamp duty at 0.84% a month. He also included an exit strategy that involved a 5-year fixed rate at the £700k value. The terms achieved were favorable compared to what traditional lenders could offer, and this made it possible for the client to purchase the property without any cash upfront.

The solution provided by Rob Holmes had a significant impact on the client's financial position. It enabled them to achieve their goal of owning a property and becoming a landlord, without having to exhaust their cash reserves. The positive outcome for the client was a testament to the importance of working with a specialist mortgage broker who has the knowledge and experience to provide tailored solutions for unique situations.