Commercial Mortgage

Dec 20 2016

Situation

A food production business owned a large purpose built facility with cold store (over three storeys) in North London since 2005. In 2009, a new lease was signed for 10 years at £407,000 p.a. but, when their bank decided to exit the market, they needed to repay their loan.

Product

Thanks to the flexibility of our Commercial Mortgage, we were able to tailor a custom solution with ease.

Outcome

The loan was completed in just six weeks from the initial commitment. This was helped by the fact that they were such a strong and reliable tenant, operated from separated owner-occupied premises, and the two directors offere

 

Property Value

£4,800,000

Loan to Value (LTV)

65%

Borrower

Private sole trader

Loan amount:

£3,120,000

Property type

Industrial

Lender arrangement fee:

1.7%

Application to offer

1 working day

Product

Commercial mortgage at 6.5% p.a over a 5 year interest only term.

Term

5 years

Monthly mortgage payments

£17,134 per month