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Case Study Property

Commercial Valuation and Refinance of an HMO

The Client

Our client required a commercial valuation in order to refinance a newly refurbished HMO above a retail unit.

The Case

The client is an experienced landlord with an existing HMO portfolio. Commercial valuations, however, can be challenging to obtain doubly so in this case as the retail unit situated under the HMO was a betting shop which reduced lender appetite and LTV. In addition, the property had a flying freehold and no HMO license at the time of refinance.

The Solution

We were able to achieve a commercial valuation for the client which delivered higher than expected results. This allowed our client to extract further funds than she expected to be achievable. We placed the loan with a lender from our panel who was able to offer HMO finance at a five-year fixed rate of 4.78%. The client has since moved on to her next project.


What our client said...

"Applying for a commercial valuation is stressful at the best of times and problems inevitably occur. However, we were most impressed when Pilot Fish went out of their way to help us solve a problem that came up at last minute, we really felt that they were acting in our best interests and supported us throughout the whole process. I will be using Pilot Fish to organise our next commercial mortgage."

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