Objective
This client, a business owner, sought to acquire the property from which their business operated. The property, located in Scotland, comprised a grade 1 listed commercial building, including an additional rented unit. With a purchase price of £240k, the client aimed to secure financing, leveraging 70% LTV against the property.
Timeline
29th January: Initiation of the case
9th February: Formal offer obtained subject to valuation
Completion: Achieved within 9 weeks from initiation
Outcome
Secured a 5-year fixed rate of 7.6%, this included a 0.25% reduction due to evidencing a debt service coverage ratio of 200%. The timely acquisition of the property allowed the client to secure their business premises, ensuring continuity and stability of their operations.
Subject to status. Product and criteria availability is subject to change or withdrawal at any time. For intermediaries only.
