Traditional values : Modern solutions

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Specialist coatings business - Commercial Mortgage

Sector: Industrial | Value: £960,000
Equipment type: N/A | Term: 20 years

We arranged a commercial mortgage to enable this business to purchase its trading premises

Problem:

The client sought finance to purchase its existing trading premises but no deposit monies were available.

Approach:

We met the client to understand its business and future plans. As the agreed purchase price was lower than the property valuation, we realised that, with our assistance, we could find a lender who would look at the property value not purchase price in calculating the loan amount. That way, we could overcome the lack of deposit monies.

Solution:

A bank loan was agreed to provide the necessary finance using the property valuation and not the purchase price.