Case Study – Office

Client’s requirements: –

Our client had been renting his office for a number of years and wanted to purchase some brand new premises to move in to, for £255,000 plus VAT. A deposit of 25% was available. He had spoken to his own bank, however was having difficulties in obtaining the level of borrowing that he required.

Complete Mortgages’ solution: –

A member of our team, who is an expert in long term commercial mortgage funding, negotiated a 75% loan to value mortgage with one of our panel of providers. Not only was he able to agree extremely favourable terms with the lender, but the client also benefitted from a lump sum cashback of £8,161 as part of the Government’s National Loan Guarantee Scheme.

In addition, due to the fact that the client’s company was VAT registered, the lender agreed a 4 month loan on a rate of BOE + 5.50% to cover the VAT of £51,000.

Finance agreed: –

  • Loan of £191,250
  • 20 year term
  • Lender’s arrangement fee of 1.00%
  • Rate of BOE + 3.25%
  • Early repayment charge of 1.00% unless 7 days’ notice given (in which case there are no charges)