Despite August being a quiet month across the industry our team managed to complete some of the biggest projects of the year so far.

Cornerstone helps JC Securities turn plans to a reality | £1.7m

Porthcawl property developers, JC Securities, identified a new site to develop 26 residential properties in Neath, but with an access road firstly required to service all plots, the company turned to Cornerstone for specialist lending advice.

The site, of two- and three-bedroom houses and bungalows, was the latest development from husband-and-wife team, Jim and Christine Slater, but it required an initial loan of £1.7m to bring the development to life.

read the full case study >

Buy-to-let Mortgage | £187,500

An experienced professional landlord who specialises in sourcing, renovating and either flipping or retaining properties approached us looking for a funder who will assist with their growth plans over the next 24 months.

The property was not in good condition and needed to a full renovation. The owners were also looking to arrange a valuation as soon as the property was completed allowing them to refinance and raise capital for their next property venture.

After a review of the market and due to a good working relationship with Landbay, we were able to source funding that met the client’s requirements on pace, price and ease. A remortgage and capital raise to 75% LTV was arranged with legals completed quickly.

This was our first deal with these clients and due to them being satisfied, we will be assisting with their property purchases/renovations going forward

Commercial Mortgage & Commercial Insurance | £169,000

Our clients were purchasing a commercial property their father at a below market value price and were seeking maximum funding against the purchase price of £200,000. The unit was valued at £260,000; however, they only had £31,000 to put towards the purchase. We were asked to source a funder that would allow a large proportion of gifted equity, allow for a reduced deposit of 15% of the purchase price, and allow a first-time landlord.

They had two tenants in place to occupy the property on purchase. Providing it could go ahead, this would be a great way for the clients to get their feet on the investment property ladder.

After extensively sourcing the market during the 2nd lockdown at the start of 2021, we were able to source funding from Together Commercial Finance. By having conversations with their BDM, Steven Darbyshire, we quickly clarified the background and structure of the deal and moved to valuation quickly. Several issues with the property title needed rectifying; however, as we had an existing relationship with the solicitor for both the vendor, purchaser, and Together, we were able to assist with getting these issues satisfied and the deal completed.

Additionally, one of the funding conditions was that adequate insurance was in place; we were able to collaborate with Cornerstone Commercial Insurance to put the policy in place.