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Purchase of trading premises for Ltd Company during Lockdown

Deal Structure

75% LTV

Loan of £120,000

Term of 20 years

Priced at 3.67% above base

No Arrangement fee

 

Deal Summary

 

Our Clients had been successfully trading for 10 years as a used car centre operating from rented premises, so when the opportunity came for them to purchase a unit of their own, they jumped at it.

 

The used car market can be problematic for lenders; however, we were able to present a clear analysis of our client’s previous financial performance along with a summary of what opportunities the new premises would present which enabled a number of lenders to provide indicative terms.

 

The client chose to take a twenty-year commercial mortgage at 75% of the purchase price on a variable rate of 3.67% above base rate.

 

When lockdown hit the client was worried that the bank would withdraw the agreement and he would lose the property, however because we worked closely with the bank and client throughout the loan completed in time for lockdown easing meaning the client could put his plans straight into practice.

Simon Parkinson

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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 NACFB and FIBA. ICO registration reference Z1196910.