Deal Round-Up January 2022

Our Commercial team had a strong start to the year, securing over £3 million in funding across a range of 13 different commercial mortgage, buy-to-let and asset finance deals.

Head of Complex Funding secures £500,000 loan through Cornerstone’s exclusive bridging fund, Cornerstone Capital | £555,314 Bridging Loan

The co-owner of a holiday cottage, Christopher Allen, approached his current adviser looking to pursue sole ownership of a property that had been in the family since 1954.

With the family agreement reached early last year and the payment deferred for 12 months, Christopher had until February 2022 to secure funding and seal the deal. While asset sales were expected to fund the transaction initially, Christopher encountered delays, so short-term bridging finance was required.

As a result of the properties’ complex ownership structure and limited lender appetite, Christopher was introduced to Ian Pottle, our Head of Complex Funding, by Phil Taylor at Ducketts Trusted Advisors.

Read the full case study >

Commercial Loan | £965,000 

Following a referral from Imperial Chartered, we assisted a client with refinance options after they became unsettled with their current bank, following concern with the banks’ transparency.

We provided several options to our client, and a deal liaised with NatWest came top on flexibility. The deal agreed did not require any financial covenants, and our client also now benefits from the lenders’ full relationship service.

Buy-To-Let Portfolio Remortgage | £656,000 

Our client turned to us to restructure their existing property portfolio and transfer into their holding company.

After reviewing the deals available across the market, an agreement was reached to transfer the properties into their Special Purpose Vehicle (SPV) and a capital raise for additional purchases.

The deposit consisted of the client’s share capital registered at Companies House and Land Registry, meaning no cash exchange was required.

Semi-Commercial Mortgage | £140,000 

We supported our client with their business expansion by purchasing the property next door to their existing hospitality trading premises. With the property housing two residential flats, the additional property provided the opportunity for further cashflow through rental income.

With little lender appetite towards hospitality sector borrowers, we utilised our industry relationships to raise a 75% LTV loan on the £190,000 purchase price with a local funder.

We also arranged the building insurance, ensuring our client was fully protected on their purchase.

Asset Finance | £38,075 

Looking to add value to their new holiday lets, our client turned to us to secure finance for a Vitality deck-level spa pool and the associated add-ons. The holiday lets were owned by a new co-holding company, with our client going through a restructure of their trading group.

As our client was borrowing through their new company, we obtained credit approval based on the client’s background and worth, with only a Personal Guarantee required as the sole security.

Our agreement funded the spa pool and the installation and delivery on a Sale and Hire Purchase basis following the client’s initial payment.