CASE STUDY
The Situation
A long-standing commercial client approached Henry Dannell requiring urgent refinancing of a Central London office building. With the maturity of their existing facility fast approaching, they sought a new lender able to accommodate a high loan-to-value ratio and a short-term facility aligned to a future sale of the asset.
While the property itself held strong fundamentals, the underlying ownership structure and associated complexities had proven a deterrent to several mainstream lenders.
The Challenge
The client’s objectives were clear:
- £6.3 million facility at 75% LTV
- 24-month interest-only term to bridge to a planned asset disposal
- A lender able to work within the framework of a complex, multi-layered ownership structure
In addition, several elements complicated the case further:
- The property was held on a virtual freehold, introducing grey areas in lender appetite.
- The insurance arrangements were deemed non-compliant by several underwriters.
- A material change in the client’s personal and corporate financial position created a mismatch between historic and current documentation.
These factors contributed to multiple declined applications, each citing structural or documentary hurdles.
The Solution
Our Head of Specialist Lending, Matt Karagul, assumed direct responsibility for the case. From the outset, our approach was strategic and collaborative—engaging with the client’s legal and accounting advisers, and maintaining an open dialogue with targeted lenders known to have flexibility on ownership structure and title.
Through this process, we secured a bespoke 24-month interest-only facility at 75% LTV. The variable rate structure significantly improved monthly cash flow, freeing up working capital and preserving liquidity ahead of the anticipated sale.
Critically, we achieved full credit approval and completion within three months, despite the structural complexities and time pressures.
Matt Karagul, Specialist Finance Adviser at Henry Dannell, remarked:
“This case demonstrates the importance of working with lenders who can navigate complexity rather than avoid it. The ownership structure, title issues, and insurance concerns might have derailed the process elsewhere, but by presenting the client’s position with clarity and guiding all parties through the journey, we secured a better result than the client had anticipated.”
Strategic Relevance
This case is particularly instructive for:
- Owners of office premises seeking to refinance at high LTV
- Borrowers requiring short-term refinance ahead of asset disposal
- Clients operating through complex ownership vehicles, such as layered SPVs or trusts
- Professionals facing structural hurdles, from title irregularities to insurance anomalies
If you are seeking to refinance a commercial asset and conventional routes are proving unworkable, our specialist commercial desk has the insight and access to move swiftly and decisively.
Explore Your Options
To discuss a refinancing strategy tailored to your commercial property and ownership structure, contact Henry Dannell’s specialist team for a confidential consultation.
Important Information
This case study is provided for illustrative purposes only and is not indicative of typical results. Outcomes vary based on individual circumstances.
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 commercial mortgage or buy to let lending.
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.
