Commercial Mortgage Group
Introducer
Case Studies
Case 1
Location: Bristol
Property type: Newsagents and Convenience Store with three bedroom accommodation on the first and second floors
Case details: The property valued at £290,000 and the applicant needed a refinance and capital raise to consolidate some existing debt and purchase some new fittings and stock for the business. The applicant had outside income from a jewellery business. We advanced 75% at 5% over base rate over 25 years.
Case 2
Location: Hull
Property type: The property was a two-storey retail unit being used as a hairdressing salon and with living accommodation above
Case details: Lent £50,000 on a valuation of £70,000. Accounts were provided and a margin of 4.75% over base was applied. The applicant purchased the site for his common law wife, supporting the application with his two other businesses (car dealership and restaurant).
Case 3
Location: London
Property type: Purchase of a vacant retail lock-up shop on a London high street at a price of £105,000
Case details: The applicant borrowed £63,000 to acquire the site at auction and convert into a grocery business. The applicant had two existing sites and used the mortgage to expand his business in the local area. A rate of 5% over base over 20 years, with the applicant using self certification supported by management trading accounts.
Case 4
Location: Watford
Property type: Applicant operated a security business from office and warehouse premises in Watford
Case details: Two properties were provided as security at a value of £1.9m. The company had recently restructured after losing two key government contracts. This forced redundancies and one-off costs which translated into trading losses. We were able to advance £900,000 at a margin of 4% over base for 20 years. In addition we deducted the first 6 months payments in order for the applicant to enjoy a repayment holiday while it delivered the restructuring of its business. Projections and future order book supported the future viability of a restructured business.
Case 5
Location: Warwickshire
Property type: The applicant refinanced a Village general store incorporating post office, off license and in-bakery
Case details: The property also had residential accommodation where the owner resided. The husband and wife team used the £300,000 advance to consolidate some existing debts short term. The property valued at £400,000 and the husband's employed income as operations director of a local manufacturing business supported the repayment ability of the application. A margin of 4.5% over base rate was applied to the 20-year mortgage.
Disclaimer
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.