With our extensive experience in raising commercial property finance, we are able to offer clients exclusive products that are not available directly.
Semi-Commercial Term Debt
An existing developer client of ours, who we procured development finance for a semi-commercial scheme in South West London, asked us to arrange a long term commercial mortgage so as to repay the development lender.
The hurdle that needed to be overcome was that the client wanted 70% loan to value, so as to redeploy some capital, however the debt service cover ratio (affordability calculation) didn’t support this level of gearing based on published rates/pricing.
Facility provided: We secured a lower bespoke pricing from a Challenger Bank on a 5yr fixed rate, so that the affordability calculation was improved and could subsequently support the level of debt/gearing sought. Pricing offered at 4.55% per annum which was fixed for 5 years on an interest only basis and subject to a 2% lender facility fee.