£4.5m Commercial Investment Refinance for Industrial Units and Land
Sometimes, refinancing can be tricky when you or your project don’t fit into typical lending criteria parameters. However, an internationally-based company as a tenant with a short trading history in the UK, were no match for our expert team of commercial finance brokers in this recent case study.
Refinancing a High Interest Commercial Loan
Blake Morgan LLP introduced a client to Pure Property Finance as they were struggling to refinance their high interest commercial loan on a portfolio of industrial units and land with a variety of banks that the client had approached directly.
After meeting with the client and discussing the background of their funding needs, as well as the history of the properties and leases, a strong understanding was gained. It was clear that due to one of the main tenants only having a year’s trading history in the UK and the holding company deriving from the UAE, a strong funding proposal needed to be presented to refinance the loan and release additional capital.
What We Did
Our Head of Structured Finance here at Pure Property Finance, Tom Lee, managed the funding from inception and overcame the many pitfalls that arose, satisfying the funder by way of a bank guarantee to gain comfort with the tenant.
Completion of the Loan
This had been a stressful period for the client and there was relief on completion, as well as reduced mortgage payments.