Commercial Investment: Refinance and equity release for business expansion
Commercial Investment: Refinance and equity release for business expansion
Our Associate Director Clare King secured a refinance deal that worked for their customer, supported their expansion plans, and stopped them getting extra charges.
"A very well-priced and well-considered loan."
The customer
The customer was an experienced investor, with a 45 year family track record in the property market. They needed to refinance their existing loan, which was secured against 2 adjacent commercial assets.
With Clare’s help the customer was offered a new loan with an element of capital raise. Securing the loan on only 1 of the 2 assets, left the second asset unencumbered. This asset was a high-quality retail unit in a prime retail location on a busy trunk road in Birmingham.
The tenant
A long-established national mobility furniture specialist, the tenant had signed a new 15 year lease in return for a rent incentive in the first year.
Understanding the strengths of the borrower and tenant, we took a flexible approach and provided funds to the customer before the end of the rent incentive period. Choosing an interest only product kept costs low. The money saved supported plans to expand the business and the tenant made changes to the remaining unencumbered asset without extra lender charges.
The broker’s view
Stuart Flynn, a Broker from Redgate Specialist Finance Limited, was delighted that our flexible approach meant his customer could expand their business:"YBS Commercial Mortgages provided a very well-priced and well-considered loan to my client. The interest only loan allowed my client to further develop their property with the refinance of the retail unit and equity release it provided."
The deal
Commercial Investment
Loan amount: £450k
Located in Solihull, Birmingham
5 year fixed term, interest only
LTV 43.69%
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