+
CLOSE
+
CLOSE
Register

By submitting this form you confirm that are happy to submit your data, which will be used solely for the purposes of my above enquiry

+
CLOSE
Quick Enquiry

By submitting this form you confirm that are happy to submit your data, which will be used solely for the purposes of my above enquiry

Purchase of a vacant Commercial property with D1 usage in London

Deal Structure

67% Loan to Market Value (85% Loan to 90 Day Value)

£595,000 loan size

Interest Rate 0.71% per month

2% Arrangement Fee

No Exit Fees

12 months term

Deal Summary

Our clients had agreed to purchase a detached property in London which was last used as a Day Centre, having originally been constructed as a Public House many years ago. The property was in poor condition, and as such it was being purchased with Vacant Possession as it was not lettable.

The previous owner had applied for planning permission to convert to residential, however our clients saw additional value in enhancing that planning permission. The bridging loan was therefore used purely for the acquisition, and as a holding position until further planning consents were granted.

We were required to seek a lender who could offer a high Loan to Value given the type of property, with the option of interest being paid monthly, to keep the net loan amount as high as possible.

The clients settled for an option which came with an interest rate of 0.71% with no early redemption penalties or exit fees. Plans are currently being worked up for a revised residential scheme which would enhance the return on investment.

Contact John Waddicker

07974 703375

[email protected]

John Waddicker

Contact

John Waddicker

Quick Enquiry

By submitting this form you confirm that you are happy to submit your data, which will be used solely for the purposes of your enquiry

Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address Warth Business Centre, Warth Road, Bury BL9 9TB. Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACFB and FIBA. ICO registration reference Z1196910.