Case study 1

First charge loan to facilitate the buyout of two other shareholders in a company.

LOAN AMOUNT: £1,736,000

LTV: 58.86%

The borrower was an experienced property investor looking to by out two shareholders in the borrowing company. The security property, a 3-bed ground floor flat in a Victorian mansion block in Central London was one of the borrowers most prestigious investments with strong rental income and long-term tenant.

Exit was refinance onto a BTL mortgage, and a personal guarantee was taken from the remaining company shareholder and a debenture was taken over the comapny.

The expected rental coverage once let, was a key part of the underwriting process to ensure high street finance was a viable exit, and the restructure of the company was completed simultaneously with our loan.