The case in brief
- Client: UK National and Resident
- Property type: Residential Refinance
- Property value: £1.05 million
- Loan Amount: £650,000
Articus received a case recommendation from one of our solicitor partners introducing a High Net Worth couple who owned a two-bedroom apartment worth £1.5 million in South Kensington. The clients were self-employed and were seeking capital to fulfil their credit obligations and acquire additional funds for expanding their business.
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In order to remortgage our clients’ London property and unlock equity for their business investments, we encountered the following challenges:
- Firstly, being self-employed raised concerns among lenders – However, leveraging our strong track record and extensive lender relationships, Articus was able to address this issue through negotiation.
- The ultimate obstacle was raising capital for business expansion. Self-employed enterprises, even successful ones, face difficulty in qualifying for mortgages, especially with perfect credit history. The company’s development would take months without immediate returns, which concerned potential lenders.
Adding to the complexity, our clients faced a looming deadline to secure financing quickly.
Our solution
Leveraging Articus’ reputation and vast network of lenders, we approached a lender who has the appetite to release equity in order to invest in a business. They took a holistic view of the business’s recent financing – factoring in the slight drop in performance over the coronavirus period. We guided the client through the application and solicitor’s process resulting in a favourable outcome.
This is an excellent example of how Articus can help grow your business – if you would like to discuss how you can expand your business, get in touch with one of our expert finance brokers.