Securing Three Business Line Transactions Despite Credit Challenges and Tight Deadlines

20th November 2023

Nick Jones

Securing Three Business Line Transactions Despite Credit Challenges and Tight Deadlines
Nick Jones

Nick Jones

Client: UK national / resident
Mortgage: Circa £1,000,000 
Corporate finance: Circa £150k unsecured business loan
Life insurance: Circa £1,000,000

In this case, Enness was approached by a UK national and resident seeking to purchase a new primary residence in one of the home counties. 

The client was suffering significantly from impaired credit as a result of their personal life going through some considerable changes in recent times. Additionally, the client was a self-employed contractor working on multiple contracts and had a limited track record of working under this arrangement. 

The critical challenge of this case was locating a lender able to utilise both employment contracts for affordability purposes based on their respective day rates, as opposed to their tax returns. The client also required a lender able to provide the necessary loan to value and get comfortable with the borrower’s credit profile – all while working under a tight deadline. 

In addition to arranging adequate protection for the debt, Enness were able to achieve the following terms:

Property value: Circa £1,500,000
Loan size: Circa £1,000,000
Rate: 5.67% fixed for five years.

Upon completing the purchase, the client required an unsecured £150,000 business loan to support their SME’s working capital, which we could provide within 48 hours with fixed repayments over a 12-month term.

Enness has access to over 500 Lenders and can present the best possible terms to our clients. We specialise in dealing with high-net-worth individuals, borrowers with complicated income structures or SME's and pride ourselves on quickly understanding client profiles and requirements. If you or your clients are experiencing difficulties arranging property or corporate finance, please don't hesitate to contact us.

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