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Purchase of premises for Ltd Company with only 18 months of trading

Deal Structure

70% LTV

Loan of £565,650

Term of 15 years

Priced at 3% above base

Arrangement fee 1.5%, added to loan

Deal Summary

Our Clients had only been trading for 18 months when they were presented with an opportunity to purchase a prime commercial property in a strategically important area for them.

Many lenders require at least two years full accounts before they will consider an application, however, using our relationships built up over the years with lenders, we were able to have detailed  discussions with them going through the clients experience, track record & financial performance to date, which, along with our more formal presentation of the case, was sufficient to procure indicative terms from three High Street Banks.

The client elected to take a fifteen year commercial mortgage at 70% of the purchase price on a variable rate of 3% above base rate.

Simon Parkinson

Contact

Simon Parkinson

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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 NACBF and FIBA. ICO registration reference Z1196910.