The Client: Our client, runs a very popular restaurant in Ladbroke Grove and was given the opportunity to buy the premises his business trades from.
The Requirement: To secure the premises he knew he had to pay slightly over market value as the building was worth more to him than an investor might pay and couldn’t risk losing the building as freeholds of this quality simply don’t come on the market often.
The Challenge: The client had for weeks persevered with his existing bank, but like most high street banks, they were slow to respond and simply not creative enough with the client’s assets.
The Solution: Matt introduced his client to one of Coreco’s strong challenger bank connections and was able to agree 80% gearing across £4.5m assets, this was a combination of existing and new security. The interest rate was under 5% per annum on the commercial premises.
At Coreco Commercial we’re experts at sourcing the most suitable solution for your needs, be it a bridging loan, development finance, or even offshore mortgages if you’re looking to purchase property aboard. Talk to us today or call 0207 220 5100.
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