Commercial Loan for a Limited Company Purchase

A client, owner of a £2.7m property got in touch seeking a commercial loan to help with the purchase of a limited company that was up for sale.

This was an off-market sale for 100% shares including assets. The client has an existing mortgage on the property he wished to raise the funds against, so second charge consent was required from the original lender.

Having dealt with many cases of a similar nature, our experienced team made a start on finding a suitable deal. Although the client was on holiday, we continued to work on the case. Within 10 days we had consent from the clients existing mortgage lender to proceed with the second charge loan and had received a formal offer from a lender who was willing to loan the full amount of £150,000 with an LVT of 53.3%. We exceeded the client’s expectations of the transaction taking between 3-6 months.