Word On The Street

Word On The Street Founding Partner Michael Street talks to Marcus Nanson CeMAP, host of the NRG Insights podcast. Listen and watch here: https://lnkd.in/eqgABTN5

Stephen Burns and Michael Street chat about a couple of cases they loved this month. A quirky, single asset part-build and large HMO portfolio refinance topped our list of smashed completions in October.

We like to think of ourselves as championing education and awareness around BTL investment and the importance of working with the right team—and this shows in the number of first-time landlord enquiries we receive. Supporting first-timers means that we can ensure they get off to the best start when it comes to funding their future portfolio. If you'd like to discuss financing your first property investment, we'd love to talk.

This week, we announced the completion of an £8m BTL portfolio refinance for a long-term professional landlord client. The funds are being used to refinance a portfolio of large HMO assets in the Midlands. In addition, £2.4m of the total facility has been raised to fund further property investment. The loan is at 75% LTV, fixed for five years at 6.59%—a bespoke rate exclusively available through Word On The Street. Read more details about the case here: https://lnkd.in/e4kB_8My Michael Street

Specialist mortgage broker Word On The Street has closed an £8m buy-to-let facility for a returning professional landlord client. Michael Street, Founding Partner, arranged the loan to refinance a portfolio of large HMO assets in the Midlands. In addition, £2.4m of the total facility has been raised to fund further property investment. The loan is at 75% LTV, fixed for five years at 6.59%, a bespoke rate exclusively available through Word On The Street. The borrower, a long-term client of Michael’s, has a sizable portfolio in the Midlands and has partnered with the award-winning brokerage to structure the finance needed to enable them to keep growing. https://lnkd.in/eQvGNbjQ

Valuing HMOs—a huge topic in the industry at present. Michael Street breaks down the commercial investment vs residential bricks and mortar methodologies in under one minute. If you'd like to speak to a broker that is well versed in funding for HMOs and specialist BTL, we'd love to chat. Meet the team and get in touch here: https://lnkd.in/eg93xRYx

A brilliant night celebrating Michael Street’s nomination for Rising Star of the Year at the Variety, the Children's Charity North West PROPS Awards. Thank you to the organisers and congratulations to all the winners. It was an honour to be recognised. Danielle Beswick Stephen Burns Karen Street Jasmine Ough CertCII MP

Today we're highlighting a £1.4m ground-up development facility arranged by Stephen Burns with Close Brothers Property Finance for our client, a retired investment banker who has successfully completed several property projects. The borrower already owned the land and was looking to fund the construction (which had already commenced) of this individual 8,000 sqft detached home, set on a half acre plot with a £3m end value. Nice work by Stephen who secured this 18-month loan at 5.25% + base rate.

“We are extremely proud to have joined the NACFB, which further highlights our commitment to best practice within our industry. It is a strong step in the right direction for Word On The Street and we look forward to working with lender patrons and strengthening our borrower proposition.” - Michael Street. Read more about our latest accreditation here: https://lnkd.in/e8cMkxjZ