We were approached by a broker who needed help arranging finance for his clients who were looking to remortgage their business premises – a GP surgery – which they own outright.
The clients, a married couple, also own two buy to let properties. The husband is a GP and the wife is a technician. They were looking to raise £275,000 to refurbish their new home and to repay an existing loan. We found an appropriate lender easily and the case was completed without a hiccough.
Here are the details of the deal:
Property value: £428,500
Loan amount: £275,000
Rate: 3.99% discounted (Lenders Standard Variable Rate discounted by 1.5% for the term of the loan)
Term: 15 years interest only
Mortgage payment: £914 pcm
Lender arrangement fee: 1.5% of loan amount (£4,125)
Completion date: December 2014
Consultant: Peter Barnes, 01732 471641
This is just one example of how I've helped a broker secure a commercial mortgage for their client. To see more of my case studies please visit my profile page. And if you have any funding requirements, please do not hesitate to contact me. My direct line and email address can be found below.
6th March 2015