Supporting a family business refinance and capital raise to build 10 new homes
Supporting a family business refinance and capital raise to build 10 new homes
Our Associate Director Clare King secured a refinance deal that worked for their customer, supported their expansion plans, and stopped them getting extra charges.
"I’d like to thank the team at YBS Commercial Mortgages, for the proficient way they handled the transaction from start to finish."
How we helped
Leaside Timber & Builders Merchants Ltd, a small family business in Hertfordshire, needed an innovative approach to meet their lending needs. We were able to offer a deal involving five separate loans, including Commercial Investment, three Buy to Let refinances and an Owner-Occupied loan. The loan totalled more than £13 million overall, of which £1.6 million was our tailor-made Owner-Occupied product.
There were lots of moving parts in this complex deal, so it needed a strong team effort from the valuers, the broker, and the client, as well as our internal teams, to get each stage of the process over the line.
The broker’s view
Laurie Baugh, managing director of Approved Finance Group, who brokered the deal, said:"We’re excited to be first over the line on the new Owner-Occupied mortgage, offering the best combination of products to suit the borrower’s specific requirements, as well as the best value. I’d like to thank the team at YBS Commercial Mortgages for the proficient way they handled the transaction from start to finish. The end result is that this established family business is able to proceed with its ambitious development plans - which will serve the local area once complete - as well as ensuring that they have liquidity in the business for their ongoing operations."
The client’s view
Nick Cooper, director at Leaside Timber & Builders Merchants Ltd, the business-owner who benefited, commented:"The deal worked really well for us, and has helped us to achieve our ambitions of refinancing our existing properties and funding the building of a new housing development. This will allow us to build 10 new homes, as well as employing at least 30 people."
The deal
Refinance and capital raise
Five loans including one Owner-Occupied
£1.6m Owner-Occupied loan
69.6% LTV
Capital and Interest
Latest case studies
Another Fast Track deal completed in under 30 working days!
We helped a customer avoid an SVR by progressing their refinance through our Fast Track Buy to Let process.
Our first Fast-Track deal completed in half the time of our standard BTL deals!
We helped at a crucial moment to keep a customer off an expensive SVR. Our Fast‑Track Buy to Let product kept everything moving quickly, saving them time and money.
Portfolio BTL: Helping future-proof a family business
Helping a sister and brother duo restructure their large portfolio.