Round-Up: April 2022’s Top Picks

Throughout April, our commercial team supported a range of UK and foreign national clients with growing their portfolios and expanding their businesses. These included:

Bridging Loan to complete works on a Commercial Development | £2,500,000

We supported a valued client by raising £2.5million against an unencumbered residential property to finance the final stage of a multi-million hotel development. 

The development funders had over-priced a request for additional funds, and we were able to save a substantial amount whilst allowing him to move ahead with the part completed project.

Incorporation of Property Investment Portfolio | £788,250 

An experienced landlord approached us to assist with transferring their existing portfolio into a recently formed special purpose vehicle (SPV). 

Through our expert understanding of the real estate market and whole-of-market approach to lenders, we worked closely with the team at Landbay to secure the client a £788,250 buy-to-let mortgage. 

To further support our client with the portfolio transfer process, we recommended a trusted solicitor who assisted with all legal requirements and liaised with the lender and their solicitors. 

Buy-To-Let Mortgage | £224,000 

Our client, experienced in sourcing, renovating and flipping properties to sell or retain in their portfolio, returned to us seeking a funder who could assist with their growth plans over the next 24 months.

The clients’ newest addition to their portfolio required a full renovation. Additionally, a full valuation was required to refinance the property and raise capital for their next property venture once the renovations were complete.

After a full market review, we could source funding that met the clients’ requirements in terms of pace, price and ease. While the client initially aimed to raise enough capital to secure a 75% LTV loan, this became out of reach when the valuation came back slightly lower than anticipated. However, thanks to our relationship with the funder, we worked together to agree to an increase to 80% LTV, ensuring the client still achieved the required funding.

Buy-To-Let Mortgage | £122,500 

The owner of a UK Limited Company with foreign directorship and ownership called on us to support them in refinancing an investment property they purchased in South Wales last year.

As our client was a foreign national, limited lender options were available due to restrictions in lending criteria. Our client also had no previous landlord experience, which can often hinder the application process with many lenders.  

We secured a 75% LTV buy-to-let mortgage against the properties’ open market value over a 10-year term on an interest-only basis. By packaging the case correctly and using our strong relationship with a solicitor we recommended to the client, the deal completed within eight weeks. Additionally, as this deal completed before the month-end, our client also benefitted from a refund of their valuation fee.

Recovery Loan Scheme – Unsecured Business Loan | £100,000 

Operating within the construction sector, our client came to us looking to secure funding for their business expansion.

Our client recently won a tender for increased business and required cashflow to cover the period between the end of the current contract and the start of their new tender. However, due to the type of contact with their clients, typical invoice finance was not an option on this occasion.

Through our extensive knowledge of the funding market, we secured our client £100,000 in funding by utilising the recovery loan scheme and sourcing a suitable and cost-effective unsecured business loan. As a result, our client now stands in a great position to continue their expansion, with no debt secured against their property.