Rare Finance Solution Acquired, Breaking Standard Market Rates
A new client approached Finance 4 Business looking to purchase a new property so that they could extend their current Solicitor Practice.
What were the client’s objectives?
The client needed access to finance so that they could extend their current business, requesting a loan of £195,000 to purchase the property at an LTV of 85%.
Requiring such a high LTV meant that our client would not be able to source this type of lend from the high street, meaning a specialist lender was required.
What solutions did we offer?
In most cases, the lender restricts the LTV to 75% – 80%. For such a high LTV commercial mortgage, we had to locate a lender that was happy to break traditional market trends and provide our client with the 85% LTV they desired.
Our experienced commercial mortgages team identified potential lenders from our semi-exclusive panel and pinpointed a lender who would be able to meet the specific needs of our client and provide the financial solutions they required.
How did we ensure success?
By utilising the client’s financial information, we were able to provide the lender with evidence of the client’s capability to repay the loan. As a result, the lender trusted the client’s business would continue to run successfully once extended and was happy to provide the client with the LTV required.
Working closely with both client and lender, we were able to streamline our communication processes and ensure all parties worked closely together. This allowed for a quick turnaround, getting the finance to the client quickly and efficiently so they could extend their practice and achieve their business goals.
The client was delighted with both the deal acquired and the service provided by Paul Atkinson (Director of Mortgages) and the rest of the commercial team.