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Commercial Mortgage Refinance Case Study: £2.1m for Retirement / Independent Living Flats

Positive Commercial Finance excels at commercial mortgage refinance solutions, especially when exiting development finance on retirement or sheltered housing schemes. This case study shows how we successfully refinanced 14 flats for elderly independent living.
The Challenge
The client had completed a 23-flat development designed for independent living for elderly people. Nine flats sold privately, but the remaining 14 needed refinancing to repay the existing development finance facility. They needed to raise £1.5 million against flats valued at approximately £2.5 million. At the eleventh hour, a deal to sell the final three flats fell through, threatening the entire refinance.
Our Solution
We arranged a commercial mortgage with a high-street bank. When the sales collapsed, we quickly renegotiated with the lender, who increased their offer to £2.1 million. This enabled the client to fully refinance the project on time and discharge all liabilities.Strong lender relationships were key — the bank understood the changing nature of property deals and responded flexibly to a sensible proposal.
Deal Structure

  • Loan to Value (LTV): 60%
  • Interest Rate: 3% above 3-month Libor
  • Arrangement Fee: 1%
  • Exit Fee: None
  • Term: 20 years
The Outcome
The client successfully refinanced the entire remaining portfolio, repaid the development loan, and moved forward with a stable, long-term commercial mortgage. The project was completed on time despite the last-minute setback.
ALL CASE STUDIES
Simon Parkinson

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Simon Parkinson
On 07775 671680 or message here
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Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Fourth Floor, Unit 5B, The Parklands, Lostock, Bolton, BL6 4SD . Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACFB and FIBA. ICO registration reference Z1196910.

Business Financial Solutions Limited is an authorised credit broker and not a lender. We work with a panel of lenders who will typically pay us a commission. This amount varies between lenders.

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