We were recently able to complete a commercial mortgage of £2.8 million to refinance an existing inter-company debt onto preferential terms with Lloyds Bank. The company originally put the loan in place to assist with a new property investment venture with the refinance now allowing the parent company to push ahead with new business opportunities in 2021.
A different lender initially approved the funding, but due to COVID, the lender withdrew the funding in March.
Capitalising on a good working relationship with Adam Withey (Broker Development Manager) and David Williams (Relationship Director) at Lloyds Bank, Matt was able to obtain credit sanction, valuation and completion all during the COVID-19 pandemic.
As a result of Matt’s hard work, we now have a great relationship with the client, and we’re working with them to assist with further funding opportunities within the business.