Commercial Property Refinance
10th January 2022
Key Facts:
- Clients: British National and Resident
- Property Value: £1,390,000
- Loan Amount: £825,000
- LTV: 60%
- Rate: 3.55% above BoE base rate
Commercial property in all major cities and business hubs remains a source of ripe opportunity for many investors. However, any time there is even a hint of economic uncertainty, many people will rush to assume lending dries up and that it’s impossible to source capital. As this case illustrates, there is always finance on offer for the right lender profiles and for the right deals, no matter the state of the markets and economy.
In this case, we helped a client of ours refinance an existing debt on a pub in London at a much lower rate. We were able to take advantage of the Government Recovery Loan Scheme, which was set up to assist with lending on property in the hospitality sector.
Speed is often of the essence when it comes to a commercial property purchase. You may be seeking commercial property finance because you want to grasp an opportunity that has arisen suddenly. Alternatively, you might face a pressing need and must make a purchase quickly: you need premises to keep up with exponential growth, your business needs to move, expand into new areas, or new property is on the market that would make an ideal investment.
Whatever your motivation for making a commercial property purchase, navigating lengthy discussions with lenders is likely to be frustrating. With a reputation that opens doors, Enness will reach out to the right players from the get-go, and negotiations will get straight to the point. Your broker will be able to generate healthy competition between lenders, and you can expect things to move exceptionally quickly.
As well as sourcing the best offers for you within a business day, Enness will also act on your behalf at every point in the transaction. On hand 24/7 to drive the deal forward, your broker will remove roadblocks, keep all the different parties focussed and see the transaction through to completion for you on time.
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