Securing a Commercial Mortgage for Working Capital

Commercial Mortgage for a Scrap Yard

A client came to us directly to raise funds for the daily running costs of their business against a scrapyard site they owned in London. This site contained four separate titles which were to be formally merged at HM Land Registry, which was undertaken during the legal process.

We chose Together Money as the lender for this project due to the complexity of the site and the fact that it was mostly land with some temporary buildings. We worked closely with the lender to structure the deal in a way that suited all parties, ensuring that our client’s business was producing enough in profit to meet the affordability criteria.

We maintained clear and constant communication with the client to collect and sort their data while also speaking with their solicitor to ensure the Land Registry titles were pulled together as required.

We provided a commercial mortgage with a 49% LTV totalling £294,835 over a 10-year term. The whole transaction was completed within 12 weeks of contact and the client was thrilled with the outcome.