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  • Raising £3.3m in 6 weeks for office-to-flats development | Mortgages for Business
    Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Raising 3 3m in 6 weeks for office to flats development 13 01 15 Property Development Finance Case Study The clients Four directors of a Special Purpose Vehicle SPV limited company formed in November 2014 especially for the project The SPV has 1 7m to invest Property development experience All four directors are experienced developers and investors in their own right They have also worked together previously developing similar properties in West London The project Purchase of a commercial office block in Richmond upon Thames with planning permission to convert into ten residential apartments Originally the offices had been owned by a bank and operated as a business centre but this had proved unprofitable so they sold the premises without planning permission to developers The property is close to the station Architecturally it is well suited to conversion into apartments and has plenty of parking space The funds were needed quickly because a 6 week timescale was a stipulation of sale by the vendors who needed finance for another project The vendors had purchased the building without planning permission which they subsequently got This increased the property s value enough for them to make a 500 000 profit without having to develop it themselves The developers agreed a price of 3 7m for the building They could fund 1 7m themselves but required a further 3 3m for the purchase and subsequent development works We approached a lender that not only works to tight timescales but is also happy to lend based on a percentage of the project s Gross Development Value The

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/property-development-finance/raising-33m-in-6-weeks-for-office-to-flats-development/ (2016-02-16)
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  • Mortgage for self-employed first time buyer with only 2 years’ accounts | Mortgages for Business
    Finance Property development finance Rates Loans Fees How to apply Refurbishment finance Bridging short term finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Mortgage for self employed first time buyer with only 2 years accounts 19 12 14 Residential Mortgages Case Study The clients are a married couple looking to purchase their first home in North London The husband is a self employed electrician and the wife is a nursery teacher Initially they had tried going to lenders directly but found that the husband s trading history was too short I was able to source a lender that was happy to accept only two years trading figures particularly as in the most recent year there had been a significant uplift in earnings Here are the details of the deal Purchase price 230 000 Loan amount 184 000 LTV 80 Rate 3 05 3 year fixed Terms 25 years capital interest repayment Arrangement fee 995 This is just one example of how I ve helped a client secure a residential mortgage To see more of my case studies please visit my profile

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/residential/mortgage-for-self-employed-first-time-buyer-with-only-2-years-accounts/ (2016-02-16)
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  • Bridging loan for house refurb then refinance onto buy to let mortgage | Mortgages for Business
    Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Bridging loan for house refurb then refinance onto buy to let mortgage 10 09 14 Bridging Short term Finance Case Study Our client is a teacher who also owns a handful of rental properties He approached us for help in securing finance to buy a run down 4 bed detached house in a popular university town Because the house needed refurbishing before it could be let out it was not suitable for a buy to let mortgage so we arranged a bridging loan in order that the client could carry out the work He spent 20k of his own funds making the house habitable and then found a family who were prepared to rent it for 1 850 per month Six months down the line with the tenants in situ the client approached us again to help him refinance onto a more affordable long term buy to let mortgage Even though the refurbishment had only taken three months he waited longer in order to secure a better rate as most lenders will not allow remortgages within six months of purchase We found a lender who was willing to help and their surveyor valued the property at 50k more than the purchase price Here are the details of the deal Purchase price 450 000 Short term loan amount 315 000 LTV 70 Rate 0 73 pcm bridging loan Term 8 months

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/bridging-and-short-term-finance/bridging-loan-for-house-refurb-then-refinance-onto-buy-to-let-mortgage/ (2016-02-16)
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  • Remortgage of mixed use property to increase cash flow | Mortgages for Business
    Bridging short term finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Remortgage of mixed use property to increase cash flow 07 08 14 Commercial Mortgages Case Study The client is an experienced property investor who also owns a successful lettings agency He approached us to help him remortgage his business premises which comprises the agency on the ground floor and a 2 bed rental flat above The client was looking to remortgage in a personal capacity and not through his business The client was after an interest only mortgage to increase his cash flow but was struggling to find a lender that would lend on a semi commercial property Fortunately we were able to source a lender who could complete the deal with a 15 year interest only term Here are the details of the deal Property value 250 000 Loan amount 177 537 Rate Lenders LIBOR 5 20 Term 15 year interest only LTV 71 Lender arrangement fee 1 7 Completion date June 2014 This is just one example of how I ve helped a client secure a commercial mortgage

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/commercial/remortgage-of-mixed-use-property-to-increase-cash-flow/ (2016-02-16)
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  • Purchase of a take-away with a flat above for investment | Mortgages for Business
    Refurbishment finance Bridging short term finance Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Purchase of a take away with a flat above for investment 14 01 13 Commercial Mortgages Case Study Our clients both employed and with an existing property portfolio wished to purchase a take away with accommodation above They have incomes of 35 000 and 12 000 pa respectively and already own and manage three investment properties The building they are looking to purchase is a terraced house comprising of a take away business on the ground floor with a 3 bed flat on the first floor It is currently let on a 5 year lease for over 14 000 per annum to the same tenant We were able to find a specialist lender who was happy to lend on this semi commercial investment purchase Property value 125 000 Loan amount 90 000 Rate 5 55 Lender s LIBOR Term 15 Years capital repayment LTV 70 Lender arrangement fee 3 5 This is just one example of how I ve helped a client secure a semi commercial mortgage To

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/commercial/purchase-of-a-take-away-with-a-flat-above-for-investment/ (2016-02-16)
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  • Commercial mortgage for start-up children’s day nursery | Mortgages for Business
    Bridging short term finance Bridging loans Refurbishment finance Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Commercial mortgage for start up children s day nursery 16 12 15 Commercial Mortgages Commercial Mortgages Case Study We were approached by two very experienced children s day nursery managers looking for finance to purchase a former local authority day care centre so that they start their own nursery This case was challenging to place because it was a start up business so there were no accounts to support the application or income to service the mortgage until the nursery was operational We approached a high street lender and after considerable negotiation terms were agreed because the clients Had chosen a property that was in good repair and a suitable location Were seeking a relatively low loan to value Could demonstrate extensive experience and had a strong business plan with a realistic yet healthy proposed turnover and net profit Had obtained the necessary registration from the local authority to operate as a 38 With the proposals deemed risk worthy the clients accepted the following competitive terms Property value 260 000 Loan amount 117 500

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/commercial/commercial-mortgage-for-start-up-children-s-day-nursery/ (2016-02-16)
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  • Family purchases Cornish holiday park | Mortgages for Business
    mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Family purchases Cornish holiday park 17 08 15 Commercial Mortgages Commercial Mortgages Case Study We were approached by an experienced landlord who was looking to go into business with her two sons Using a newly formed limited company they planned to purchase a large Cornish holiday park made up of apartments bungalows cottages and leisure facilities The family had raised the necessary deposit by refinancing an unencumbered buy to let property owned by the mother Although between them the clients had never owned a holiday park before they each either had property or leisure sector experience One son had previously owned a 35 bed hotel and has an extensive background in property management and leisure tourism The other son is employed as a manager within the service industry We negotiated with a high street bank which is known for lending to leisure sector businesses The bank s underwriters agreed that the family s combined experience available funds and business plan made a strong proposal and so offered terms The purchase is due to complete at the end of the current holiday season Property value 900

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/commercial/family-purchases-cornish-holiday-park/ (2016-02-16)
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  • Commercial mortgage to purchase 20-bed care home | Mortgages for Business
    Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Case Studies Commercial mortgage to purchase 20 bed care home 13 05 15 Commercial Mortgages Case Study The client an existing care home operator came to me to look at options for his son to acquire a freehold 20 bed registered nursing home in Sussex The purchase price that had been agreed was 1 300 000 and the borrowing requirement was for 750 000 Both father and son already have two trading care homes located in Hampshire and Surrey and have owned these for five years The son is a director and part time financial accountant for the trading companies that own the care homes He also has a full time position at a global bank in London To complicate the case the lending required was for an offshore limited company located in the Isle of Mann We found a lender that was happy to finance the deal subject to a Care Quality Commission interview which will ensure that the care home and its new owners are fully registered In addition the lender will provide a cash back facility of 15 000 when the loan is drawn down which will help to meet the client s costs of purchase The cash back scheme is used as part of the Government s

    Original URL path: http://mortgagesforbusiness.co.uk/case-studies/documents/commercial/commercial-mortgage-to-purchase-20-bed-care-home/ (2016-02-16)
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