As experienced mortgage advisers, we’re used to securing finance for all different types of commercial requirement. For our latest case study, we were approached by a client who had purchased a large commercial property using a bridging loan, but was now looking to refinance on to a longer finance term.
The commercial property had been purchased by the client using bridging finance, for the purpose of renting it out. However, a bridging loan is not a suitable long term finance solution therefore the client required refinance with additional capital raise to carry out development works. In addition, the client hand confirmed a tenancy agreement with a charity organisation.
Complexities with this case came with the charity tenant. On occasion, lenders can be wary of vulnerable tenants due to the potential negative impact if they had to repossess the property. However, experienced adviser Guy Nyirenda was able to agree a first charge term loan with CAF Bank who are a specialist bank for charities and non-profits. What’s more, an agreed rate of just over 3% was secured – unheard of for the type of tenant!
Are you looking to refinance your residential or commercial property? We’re award-winning specialist finance experts who have been helping clients with their refinance loans for years.
Get in touch today to see how we can help.