Loan amount: £420k
A client approached us who ran a number of small residential nursing care homes in the South East of England. At the time he contacted us he was leasing three of the premises he was operating out of. When the opportunity arose to buy one of these leased properties, it was sound business sense for the client to add the additional property to their portfolio.
Being as the nursing home was operating from the property as a good trading business with good ratings, the affordability to purchase was no issue. However, the client discovered that the commercial lenders they had approached were reluctant to lend against any form of care or nursing home due to the potential reputational damage they would receive should they have need to repossess the property in the future.
With the options for a finance solution running out, they contacted the Specialist Lending Department at One 77 who were able to assist. As we have complete market access, so can therefore access many bespoke and specialist routes to finance, we were able to secure an excellent rate for the client and a desirable LTV of 70% across a 15 year term meaning they could purchase the property hassle free, and fee free.
Do you require long or short term bridging finance? For our full range of specialist finance options and products call our Specialist Lending team on 01249 474956.