William Roberts, of Skyline Capital Investments, needed our support when things changed unexpectedly. We made it happen.
“I was also grateful for the overall flexibility.”
How we helped
William was looking for a commercial investment loan of £1.157m to purchase a 3-storey commercial asset housing 3 independent tenants. Despite things going smoothly and being approved by credit, a main tenant unexpectedly surrendered their lease leaving the deal hanging in the balance.
Our senior relationship director, Gaynor Morgan, and our completions specialist, Pedro Lopes, worked with our senior commercial underwriter, Kevin Tinmouth, to find a solution. The loan was approved, subject to a new suitable tenant being identified and secured.
To further complicate the deal, the property was slightly down-valued based on the new tenant details. This meant the loan size available was now lower than requested. Gaynor used her expertise to restructure the loan with a higher LTV, securing the funds the customer needed.
The broker’s view
Despite a tricky deal, William Roberts of Skyline Capital was a happy customer:
“I found both Gaynor and Pedro were very pleasant to deal with and they responded quickly to questions and progress updates. Pedro was very effective at chasing and following up with solicitors and closing the final stages. I appreciated Gaynor’s patience and trust while we had problems with the original tenant and found a new one in the middle of the transaction. I was also grateful for the overall flexibility.”
The deal
£1.157m commercial investment
Loan term 20 years
C&I payment
5 year fixed rate
LTV 75%
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