- The prospect had been seeking an urgent refinance due to a director and shareholder having entered into an IVA
- The outgoing lender, which was a High Street Bank, had advised the prospect that they no longer wished to continue providing facilities to the family/group of companies
- Terms were offered for a gross loan of £150,000 with interest serviced monthly with a LTV of 60%
- The security offered was 2 income generating car parks on a 1st charge basis
- Once terms were agreed with the borrower, valuers and solicitors were instructed immediately and the refinance took place within 5 working days
Refinance of a commercial property
