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Case Study, May 2020

Quick Finance For Auction Purchase

The Client

Our client was purchasing a commercial property; a pub with planning permission for conversion, from auction and required a minimum investment of 65% loan to value (LTV).

Although an experienced property investor, with multiple developments to his portfolio, this was built utilising own funds, so our client's borrowing history was limited.

The Case

Due to the ongoing coronavirus pandemic we are seeing some limitations on lender availability along with higher borrowing rates for commercial property investments. Lenders have the added difficulty of obtaining valuations as surveyors are restricted from visiting sites.

As this case was an auction purchase, we needed to work swiftly to ensure our client had access to funds quickly. We approached a lender on our panel who we knew was operating quickly and flexibly in the current climate and therefore, would be able to produce a desktop valuation promptly.

After assessing our client's portfolio, our property team were able to leverage on one of our client's BTL investments to secure the 65% LTV required.

The Solution

By capitalising on our clients portfolio, we were able to obtain a valuation of 63% LTV at a rate of 0.59% for the first six months of the term. The client obtained the equivalent of 65% of the property's value, enabling him to purchase the site.


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