CASE STUDY
Many commercial property owners face hurdles when refinancing. High loan-to-value ratios, complex ownership structures, and tight timelines can easily turn a simple refinance into a labyrinthine process. This case was no exception, but we secured a refinancing solution for our clients that exceeded their expectations and overcame significant challenges.
The Challenge
Our clients urgently sought a new lender to refinance an office space as the end of the term for the existing banking relationship quickly approached. The requirements included a 75% LTV, a 2-year facility that aligns with their planned sale of the asset, and to accommodate an unorthodox ownership structure.
Overcoming Complexities
While the case initially appeared straightforward, it harboured complexities that deterred a number of lenders. The virtual freehold nature of the security, unsatisfactory insurance policies and a significant change of circumstances for the client added to the challenge.
Despite these obstacles, our team rose to the challenge. Our dedicated Specialist Finance Adviser, Matt Karagul, became the client’s trusted adviser, guiding them through their options and navigating the complexities.
A Successful Result Beyond Expectations
Within just three months of application, we facilitated a £6.3m, 24-month facility at a remarkable 75% LTV. Going above and beyond, we obtained an interest-only variable rate, significantly improving their cash flow – a solution even better than the clients anticipated.
Matt Karagul, Specialist Finance Adviser at Henry Dannell, commented:
“We’re delighted to achieve an outcome exceeding our client’s desires. By remaining by their side and guiding them through each step, including interactions with other professionals involved, we delivered on our promise of exceptional client service. A big thank you to our introducer, the accountant, for trusting us with this client.”
Do you require help refinancing?
Let us help you navigate the complexities of refinancing and unlock the potential of your commercial property. Contact our specialist team today to discuss your options.
This is a case study and not indicative of typical results. Past performance is not necessarily representative of future results. This information is for general purposes only and does not constitute financial advice. Please seek professional advice before making any financial decisions.
Please note: a mortgage is secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. Please also note: The Financial Conduct Authority does not regulate most forms of buy to let mortgage.
