Freehold block of 38 Flats refinanced at 75% loan to value to release equity

  • Our clients owned a freehold block o 38 flats in a limited company
  • They wished to free up equity to allow them to continue to purchase more properties
  • The issues they had found were that most lenders refused the deal because of concentration issues i.e. the fact that the 38 flats were all located on one site
  • Using Business Finance Quote’s wide network of lenders we were able to find a lender prepared to lend
  • A 10 year interest only facility with a very competitive 5 year fixed rate was offered freeing up a further £1,600,000 for the client to purchase more properties
  • Directors guarantees were a requirement but BFQ were able to give the directors access to their directors guarantee portal to insure the guarantee