Our client operated a day nursery in the Midlands in a rented unit. The owners of the building, the local council, offered our client the freehold at a discounted price as the sitting tenant.
The client had approached lenders herself but had been turned down as she had little money for the deposit. When she approached All Property Finance, time was running out because, if she could not find the funds, the property would be sold at auction and she could find herself at the mercy of a new landlord.
We immediately approached a more suitable and sympathetic lender and made a full presentation. The lender provided a 100% loan against the premises at a fixed rate for five years – exactly what the client wanted – and completed the deal within the time frame.
A month later, the client returned as the property next door had become available at auction. With the opportunity to grow the business, she successfully bid for the property but had just 28 days to complete.
Our consultant worked with the same lender and, by combining the values of the two properties, we were able to complete within the tight time constraint.
To find out more about how we can help you, please contact All Property Finance.