Every now and then we like to share some examples of the deals we have been working on. Whilst we don’t share every case, it does give some insight into the types of funding we arrange and the various business types that we have helped.
Here are a few of our recent cases.
Commercial Mortgage to a SIPP for Property Purchase
We recently helped a client with a commercial mortgage to enable them to purchase an adjoining property to one they already owned which they were currently renting and operating as a Children’s Home.
The directors were able to borrow up to 50% of the value of their SIPPs to facilitate the purchase. The loan was spread over 4 SIPPs to enable each director to be involved and was provided by a high street lender.
The client was introduced to me by their IFA who advised them on the benefits of this method of purchase however it’s worth noting that the lending process for such transactions is more challenging and lengthier.
Development Funding Facility for Local Developer
Our client owned a plot of land and secured planning permission for 2 semi-detached houses. We secured a facility for 100% of his build costs on an interest roll up basis, allowing him to draw down in stages as and when he needs. The total loan will be repaid once the properties are sold.
We found a lender who is local to the scheme and can therefore be carry out much of the ongoing monitoring in house meaning less costs to the client, whilst still offering a competitive interest rate.
Refinance of a CBILS Loan using Recovery Loan Scheme
Our client had taken a CBILS loan previously, however because the term of the loan was only 24 months, the level of repayment was putting a huge strain on their cash flow.
We arranged a Recovery Loan over a 72-month term to enable them to repay the CBILS loan and have a more manageable monthly payment going forward.
Commercial Mortgage for purchase of Care Home
We secured a £750k commercial loan to enable our client, an experienced care home operator to purchase another home.
Whilst the more mainstream lenders prefer larger loan sizes, we sourced a facility with a reputable lender, at great rates and who allowed 67% against the purchase price, and 100% of the VP value of the building.
Bridging Loan for purchase of Commercial Premises
Our client wanted to purchase a commercial property for investment purposes. With some work required on the building and no tenant in place a commercial mortgage was not possible.
We sourced a bridging loan at 65% LTV to facilitate the purchase. The client wanted the option of servicing the interest monthly which not all lenders allow but we managed to find a lender that agreed to this, therefore giving him a higher advance on day one.
Once the property is income generating, we will switch this over to a commercial loan.
Commercial Mortgage for Kebab Takeaway
Our client runs a kebab shop and owns the trading premises jointly with another party. He wanted to raise equity from the property to enable him to buy out the other party.
Whilst the deal was declined by a high street lender due to historic financials, we managed to find a lender to support based on projected income.
If you have a business of any type and require funding, why not get in touch to see how we can help.