Loan amount £455k
Interest Rate 6.25% above base rate
2% Arrangement Fee
20 Year Term
Our client operated out of rented premises for 12 years so when the property became available to buy, they jumped at the chance.
Although the business had traded profitably over this time, one of the Directors had a failed business in the past which put a lot of lenders off this transaction.
We were able to present the facts behind the failure of the previous business, along with a detailed summary of the current business including a full financial analysis of trading performance over the previous three years, to lenders we knew would take a commercial view of the transaction.
We were then able to present three different Commercial Mortgage propositions from lenders to our client who elected to proceed with the one which offered a higher LTV and a longer re-payment term which gave them some certainty for the future.