Loan amount: £350k
Our client ran a residential care home in London, he was currently leasing the premises when the opportunity to purchase it came up. As a good trading business was already operating out of the property the affordability was no issue, however most commercial lenders are not happy to lend against care homes due to the potential reputational damage if they had to repossess. We were able to secure an excellent rate for the client and a desirable LTV of 70% across a 15 year term.
To discuss your individual situation and find out how we can help with your bridging finance needs, call our Specialist Lending Department on 0800 098 7177.