Client had directly progressed the purchase of a Mixed Use Investment property to valuation stage with an alternative lender, however on discussing the case with Omega’sBroker team to obtain free advice on terms available across the market (to effectively provide peace of mind), they were advised the deal wasn’t going to meet lender criteria based on percentage split and makeup of Commercial vs. Residential within the Mixed Use asset. The Property in question effectively 50/50 on a valuation basis, falling outside of the subject lender criteria.
Through simply calling for free advice, we saved that client over £1,000 in wasted valuation costs and also several weeks of time, and were able to progress the deal on their behalf with a lender able to support the transaction and property type.
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