How can we help you?
We invite you to get in touch via a free, no-obligation initial consultation.
Our client, a company director, was looking to release funds for further development projects within their company. Specifically, this was to convert a barn into four luxury holiday lets and develop an existing commercial unit to support a long-term tenant’s business expansion.
Working with a specialist lender only a few UK mortgage brokers have a relationship with, our Private Finance broker successfully arranged a flexible overdraft facility of £900,000. This facility was secured against an unencumbered property owned in their personal name through the limited company.
This facility enables them to draw funds as and when required and then repay back the drawn amount throughout the term of 24 months. The client would be able to pay interest only on the funds they actually used, creating a more efficient financial system compared to bridging finance, where interest is charged on the entire loan amount from day one.
If this is something that is relevant to you please contact us and we’ll see if we’re able to assist. Call us on 0800 980 8777 or email info@privatefinance.co.uk
An alternative overdraft facility is available for a period of two years, and then subject to review. It can be secured by a first charge on commercial or residential properties, as well as a second charge on residential properties. It allows borrowers to draw, repay, or reduce funds as required. Unlike traditional loans, there are no costly setup charges each time funds are needed.
Please call us on 0800 980 8777 or email info@privatefinance.co.uk if you would like to discuss overdraft facilities further.
