Securing a Commercial Mortgage for Working Capital

Find out how we helped our client pay towards the running costs of their business using their land.

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.

Overview of Case Study

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    Remortgaging a commercial property for our client

    Find out how we secured a new deal on a commercial mortgage for our client’s retail premises. 

    Securing a New Commercial Mortgage

    We were introduced to a client who was looking to refinance a well located semi-commercial property, as the rate they held with their current lender was coming to an end. 

    The client has owned the property since 2017 and has run a successful newsagents and off licence on the ground floor ever since. The three-bed flat above the retail unit was once the family home, but the client purchased a new home in 2021 and it is now on an assured shorthold tenancy agreement.

    We identified Allica Bank as the perfect lender for the client’s needs, who offered a new like-for-like loan with a better interest rate than the other potential options the client had available. 

    Overview of Case Study

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      Refinancing a commercial mortgage

      An existing client of ours found themselves with financial complications and needed urgent help repaying an existing loan and overdue Corporation Tax payments.

      £2.35m Commercial Mortgage Refinance

      An existing client of ours who ran his own business reached out to Forecast Finance directly for a commercial mortgage refinance worth £2,350,000. He banked with a high street bank who were not able to increase his lending due to insufficient affordability demonstrated within his financial accounts.

      The client needed the loan for two key reasons. The first was to repay a previous loan worth £1,800,000 from the high street bank, while the remainder would be used for Corporation Tax payments which had become overdue and to repay other creditors within the business.

      Our client’s financial complications had occurred due to some personal distractions over the previous few years, but his business remained strong. There were several factors impacting both our client and his business which had closed traditional routes of funding, and he needed expert help to get him on the right path.

      Paul at Forecast Finance worked closely with the client to understand his situation and recognised the necessity of a stepping stone loan to help him out of a difficult spot. Having contacted several traditional commercial lenders, Paul devised a way of helping our client repair the business’s financial position.

      Working alongside the client’s solicitor and accountant, both of whom Forecast Finance liaised with at length, and the forward thinking and flexibility of Together Money who were chosen as the funder, a loan worth £2,350,000 was agreed for the client quickly.

      Overview of Case Study:

      • Property Value – £3,375,000
      • Loan – £2,350,000
      • Rate 9.75%
      • Term 10 Years
      • Lender – Together
      • Existing Client
      • Completion time – from terms being accepted to completion – 4 weeks and 3 days.

      The Outcome for our Client

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