Big Cost Savings For Our Clients

Chris Evans

Refinance of commercial property

Dramatic Cost Saving On Refinance Of Commercial Property Portfolio

We arranged a loan of £1,650,000, which was secured against a secondary market commercial property portfolio.

The asset value was £3,000,000 and the refinance was organised through a specialist lender, who had initially financed the portfolio many years ago at 80% LTV. The company had been paying a rate of 5.4% variable, but a like for like refinance reduced the rate dramatically to 2.75%.

A further £400,000 was then released as a hunting licence to allow the business for the first time in over 5 years to begin to expand again.

With an amortising profile of debt over 15 years, the deal was completed within 3 months, and the client saved thousands in legal fees with dual legal representation.

Purchase Funded On Income Despite Age

A client wanted to assist his son with the purchase of his first home, and was willing to provide deposit funds.Since the son had not yet reached his full earning potential, his income fell short for the required loan amount, even with the deposit from his father.

Although the father, a prominent business man, was nearing state retirement age, we were able to fund the purchase using his income. The father did not incur an additional 3% Stamp Duty levy, regardless of owning and retaining his current home.

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