Case Studies
East Midlands Property Landlord Secures Semi Commercial Unit after decline by uninterested existing bankers.
Commercial Mortgage of £145,000 (65% Loan to value) agreed for experienced property landlord to buy convenience store with two flats above. The Client approached us after his own High Street Bank had declined his request, as they were no longer interested in investment property lending. An agreement in principle was issued within 48 Hours to assist in securing the property and the offer posted quickly after the valuation.
Indian Restaurant purchased in the West Midlands despite past Credit Issue
Two experienced restaurateurs approached their own bank for a £250,000 commercial mortgage to buy the freehold of their leasehold premises. Despite the business being profitable, their request was declined because of a small satisfied CCJ appearing on one of the partner’s credit files. The CCJ was in respect of Council Tax on a Buy to Let property that one of the applicants owned, but had not received the paperwork. After submitting a letter of explanation and the Certificate of Satisfaction with the application, the mortgage was agreed.
Garage Proprietor releases working capital from premises and reduces his monthly payments
A Nottingham garage owner needed to release an extra £25,000 to purchase capital equipment and fund stock from suppliers. A total mortgage of £95,000 was required against premises valuation of £150,000. The garage owner wished to retire in 5 years and sell the business and therefore wanted an interest only mortgage to reduce his outgoings. His own bank could not offer this option, but a five year interest only deal was agreed at a loan to value of 65%. Interest only periods of 3 and 10 years were also available if required.
Higher Loan to value option enables West Yorkshire business woman to secure additional premises
A very profitable clothing manufacturer needed more space to meet growing orders and had found a suitable property. Her own and other banks could only supply a 70% mortgage, when she needed 75% so that she could retain money within the business to cover the cost of fitting out the new building. Funding of 75% was agreed and the premises purchased, leaving money free to bring the new factory into production quicker.
Take a fresh look at your commercial mortgage needs.
As a chosen business partner of Shawbrook Bank call us today to chat through your requirements on
08444 144391. Alternatively complete the Enquiry Form on the right hand side of this page and one of our Consultants will call you to discuss your needs and provide you with a no obligation illustration.
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