The case in brief
- Client: UK National & Resident
- Property type: Buy-to-let refinance on a high-value
- Property value: £3.8 million
- Loan Amount: £2.4 million
Articus was approached by an existing client – an experienced investor in commercial properties. The client sought to refinance their commercial asset located in East London.
If you are a property investor looking for new opportunities, contact the Articus team today.
Our client
Specifically, they were combining two office suites into a single unit. The total area of the office was approximately 5,000 sqft, and the client intended to secure a loan of £2 million based on the property’s value of £3.8 million.
The client’s objective was twofold:
- Raise the necessary funds to repay an existing bridging loan obtained during the development project worth £1.4m. They were looking to minimise the amount of time due to the high expense of the bridging loan; and
- Unlock additional capital for pursuing new opportunities.
Our solution
We approached a specialist commercial lender who was able to begin the application process prior to the works being completed and tenants moving in. This was to avoid any unnecessary bridging payments.
Our close work with the lender and constant communication with the client enabled a smooth ‘headache free’ process. The lender also honoured the quoted rate at the beginning of the process, even though the base rate and the lenders’ rate had risen considerably.
The lender was also happy to provide extra liquidity for the client, knowing that they were a sophisticated investor with a track record.
Are you a property developer in search of a specialised financing loan? Maybe you’re interested in refinancing your current arrangement or require a development or bridging loan?
At Articus, our experts secure short-term finance solutions for your unique needs. We guarantee competitive rates with our vast experience and trusted network of lenders. Get in touch today.