Semi Commercial Investment of Commercial Units and Flats Together

The Requirement:

Our client wanted to refinance two commercial units and four flats on one property title. As well as release land related to the properties on another title, so it could be developed.

The Interesting Stuff:

This was quite an involved request because it wasn’t just relating to one property, or type of property, but also land for development too. The client wanted to refinance two commercial units they were already using for their business, and four flats. The client wanted to do all of this under one property title.

They also wanted to release land at the rear of the properties onto another title, to allow the land to be developed on further.

The refinance was a Bridging Loan which would be used to develop the properties, so the client was looking to get the maximum amount they could and of course at good rates.

Semi commercial properties have different lenders compared to residential properties. High street lenders typical maximum loans are 65% LTV, but Specialist lenders can offer more, such as 75% LTV.

We were able to source for our client a loan at 76.7% on interest only basis for up to 25 years. To secure this we submitting the request that included a mixture of the rental income from the flats, and the clients profit to date from their trading business being run from the commercial units to help qualify the loan.

How we helped:

With our close relationship of Specialist lenders, we could go to the most relevant one to offer this finance, and provide them with what they needed to agree to it all.