Cornerstone Commercial secures funding for 17 residential flats in Merthyr Tydfil

A client was looking to refinance two adjacent Semi Commercial properties in Merthyr Tydfil to repay the existing finance split between two funders, then leverage the finance to fund their next project.

The two units consisted of 17 residential flats and a commercial unit. The client also wanted to transfer the properties from their private name to a company name.

The case was fairly complex, with some of the flats only just being finished and the commercial unit closed due to Covid 19. In addition, the client faced planning problems and difficulties with the transfer of the titles into a company name.

By working closely with the solicitors and funders involved, our team was able to help our client overcome these problems and secure a £690,000 commercial loan to fund their project.