The following case studies are actual examples of
mortgages which have been taken out by business's from
all around the United Kingdom. They give you an
insight as to what problems people have incurred and how
they have been solved. They also show you what
diverse properties we deal with.
| case 1
|
| Location: County Durham |
|
Property Type:
café refinance, raising £90k on
£125k |
|
Case details: The applicant approached us via the
introducer to raise capital for property
enhancements. They redeemed Lloyds TSB,
raising £20k for investment. The transaction
completed 8 calendar days after we received the
fully packaged case! We were provided partial
accounting information and the margin applied
was 4.75% |
| |
|
case 2
|
| Location: Essex |
|
Property Type: Purchase of a retail food outlet,
with living accommodation above and business
premises below. The Applicant raised £140k on a
valuation of £300k. |
|
Case details: The borrower had an existing 13
year lease in place, and had the opportunity to
purchase the freehold at a discounted price of
£190k. With partial accounting information we
provided funds at a 3.25% margin. |
| |
| case 3
|
| Location: Buckingham |
|
Property Type:
Racing stables and farmhouse.
£1.6m purchase, we lent £900k to assist with
the purchase. |
|
Case details: The client was moving from smaller
stables and accommodation as his business grew.
The clients had partial accounts (just one years
audited) and the property had two leases,
providing rental income for the borrower. A
margin of 4% applied |
| |
| case 4
|
| Location: Norfolk |
|
Property Type:
Retail sports unit, refinance
provided £220k on valuation of £340k |
|
Case details: The borrower was an investor, and
raised the cash on his unencumbered property to
purchase further investment opportunities
overseas. A 3.75% margin was applied |
| |
| case 5
|
| Location: Kent |
|
Property Type:
Estate agency & Solicitors
practice, with investment flat above. us
provided a refinance of £250k on a valuation of
£370k |
|
Case details: The applicant used the rental
income, supplemented by an accountants
certificate in the application. The monies were
raised to redeem an existing bridging loan and
raise additional capital to renovate the retail
unit. A margin of 4% applied. |
| |
| case 6
|
| Location: Oxford |
|
Property Type: Purchase of a
freehold pub with
letting rooms above. £440k advanced on a
valuation of £600k |
|
Case details: The applicant received the advance
within three weeks of us receiving the packaged
case. The borrower had been operating the public
house on a lease, and used our mortgage to
secure the property and business for herself. A
margin of 5% applied with the borrower using an
accountant certificate together with her rental
statements when applying for the mortgage. |
| |
| case 7
|
| Location: Berkshire |
|
Property Type:
Garden Centre, £175k refinance on
a valuation of £250k |
|
Case details: The borrower used the property
security to raise capital. The property was
unencumbered and the capital raised was used to
extend the buildings on the property and the
business. The borrower provided partial
accounting information and obtained the finance
in 6 weeks from application at a margin of
4.75%. |
| |
| case 8
|
| Location: Eastbourne |
|
Property Type:
Guest House, valued at £175,000 |
|
Case details: Refinance monies used to carry out
some refitting and overhaul to renovate before
the new season was under way. Lent £130k (74%
ltv) at a margin of 5.25% with applicant using
self certification and supporting accountants
certificate. The applicants also had a history
of consultancy income within the IT industry.
The mortgage was over a 20 year term. The
applicant had an up to date mortgage history. |
| |
| case 9
|
| 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 again had outside income
from a jewellery business. We advanced 75% at 5%
over base rate over 25 years. |
| |
| case 10
|
| Location: Hull |
|
Property Type: The property was a
two storey
retail unit being used as a hair dressing 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 11
|
| 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 from 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 12
|
| Location: Watford |
|
Property Type: Applicant operated a
security
business from office and warehouse premise 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 13
|
| Location: Norwich |
|
Property Type:
8 Bedroom Guesthouse in which the
owners also resided |
|
Case details: The applicant was advanced £380,000
on a valuation of £600,000. The husband and wife
team had been in the industry for over 7 years.
The applicants had a complete mortgage history
but had incurred two ccj’s due to ill-health
nearly four years ago. The applicants were again
refurbishing the property and used the
additional capital to complete these works and
add soft furnishings throughout the property.
The mortgage history and management accounts
supported the self declaration of income. The
margin on this case was 4.25% over a 25 year
term. |
| |
| case 14
|
| 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 husbands
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. |
| |
| case 15
|
| Location: London |
|
Property Type: Refinance of a telecommunications
and music shop in Islington, London |
|
Case details: The property was valued at £340,000
and the applicant needed to raise capital in
order to acquire new stock and refurbish the
living accommodation before he moved in. An
advance of £190,000 was made available at a rate
of 4.25% over a 20 year term. |
