Commercial Mortgage – Capital Raising

Purpose

The client wanted to refinance his existing commercial mortgage and raise some additional funds for use as a deposit on a Buy to Let property.

Challenge

Our client was aged 69 and wanted certainty of funding for at least 10 years to ensure payments were comfortably affordable whilst repaying the loan.

Solution

Utilising our relationships and expertise, we secured a loan of £160k with a challenger bank over a 15-year term, with the first 2 years of the loan on an interest only basis. This gave the client the required flexibility and additional income to purchase his Buy to Let property and the new payments where within the clients desired budget and affordability calculations