Negotiation of debt forgiveness of £600,000 with A High Street Bank and re-finance facility of £980000

  • Our clients owned a serviced office investment with debt of £1.5million
  • New valuations came in at just £1.4 million so the bank was under water at this stage on debt against value
  • We demonstrated to the bank that the best route was to allow a debt forgiveness and refinance for the current owners which they agreed to
  • A new facility of £980,000 was arranged over 20 years (even though the owners are 60 and 68 respectively) to include all costs
Please note our clients credit status allowed a deal to progress on this occasion. We would advise that each clients circumstances can be different and cannot be guaranteed every time