£8,100,000 Loan Secured For Rental Properties In The Kent Region
We recently sourced an £8,100,000 million loan for a client, combining a CBILS and standard investment loan to refinance existing funders of three specialised purpose-built student accommodation units.
The commercial properties were valued at £12.65m in total and located in the Kent region.
What were the client’s objectives?
The client was looking to secure the necessary funds to refinance the properties and change their ownership of them.
What solutions did we offer?
We successfully provided access to the required finance and secured the maximum loan available to our client based upon valuations and affordability.
Through the strong relationships we have with our lenders, we secured our client a loan of £8,100,000 million with a 65% LTV.
The transaction assists development funding exit and standard property investments funding onto a more traditional longer-term commitment, with the investment loan being part interest only and part capital and interest repayment.
How did we ensure success?
Director of F4B, Paul Atkinson, worked closely with both the client and their solicitor, as well as the lender and their solicitor, simplifying the communication process and ensuring a fast turnaround for the client.
Paul ensured that the lender was provided with the correct information from the outset to secure the loan, including the client’s financial accounts for the last 3 years and evidence of sufficient EBITDA.