70% Loan to Value
£230,000 loan size
Interest Rate 2.8% Over Base
1.5% Arrangement Fee
We were contacted by a new client who asked us to review the loan he had with his current bankers.
He had taken the Commercial Mortgage out 3 years ago when he purchased the premises he trades from.
After a brief conversation to understand his circumstances and requirements we reviewed the loan documentation along with his trading accounts and quickly realised we could obtain cheaper finance for him.
We approached several lenders who we knew would be able to offer a cheaper loan and presented the client with various options.
The deal we sourced was cheaper than his current lender and because of the lower interest rate the term of the loan was reduced by 7 years, meaning overall, he saved in excess of £60k in interest costs.