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Refinance of 8 bed property let to an Assisted Living Care Group

Deal Structure

 

70% Loan to Value

£815,000 loan amount

Fixed Interest Rate at Base + 2.75%

1.25% Arrangement Fee

20-year loan

Deal Summary

 

Our client purchased an 8-bed property with a view to refurbishing it to a high standard and letting it out to a specialist Assisted Living care provider.

The proposed contract with the Health Care provider was lucrative and way above what he would expect from a normal AST contract.

After approaching some lenders himself, the client discovered that many lenders were not interested in this type of asset or contract, sighting possible reputational risks involving lending against a property housing vulnerable people.

Our client approached us as he needed to find a solution to a proposal which was a win-win for him, the local authority and the end user.

As we provide a whole of market service, we knew of various lenders who would be receptive of this scenario and would offer very competitive terms, as we work with these lenders on behalf of other clients in the same sector.

We presented the options to the client who chose a specialist lender offering 75% Loan to Value at a rate of 2.75% above Base Rate and above all showed they had appetite to do further loans of this type with him.

Contact Simon Parkinson

07503 722 838

[email protected]

Simon Parkinson

Contact

Simon Parkinson

Quick Enquiry

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Positive Commercial Finance is a trading name of Business Financial Solutions Limited. Registered in England & Wales 06451075. Registered office address 1 Harvey Street, Bury BL8 1NL. Authorised and regulated by the Financial Conduct Authority (716012). Full members of the NACFB and FIBA. ICO registration reference Z1196910.

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