YBS Commercial Mortgages has completed on a semi-commercial deal in just over five weeks from the point of application.
The properties in question were commercial units, to be used as a card and gift shop, and an independent convenience store, alongside four self-contained flats.
The loan was for £840,000, secured at a rate of 6.45% on the commercial lender’s 5-year fixed rate semi-commercial product designed specifically to support investors who rely on diversified income streams.
The customers have acquired the property as an investment, and were looking for a quick turnaround time due to the fact that the purchase took place at auction.
Mark Setchell, senior relationship director at YBS Commercial Mortgages, said: “I’m delighted to have secured this purchase.
“The quick turnaround time demonstrates the effort which has gone into finalising it, as well as the speed and flexibility of the service provided by our teams, ensuring a slick and smooth customer journey to get it over the line in the timeframe required.”
Yoel Rosenthal, director of MRI Woolwich, the borrower who benefitted, added: “I want to express our appreciation for the support from YBS Commercial Mortgages in delivering the funding we needed within our tight auction deadline.
“Their efficiency and professionalism ensured a smooth and timely completion, helping us to achieve our borrowing ambitions.”
Eugen Grosz, from Starglow Finance, who brokered the deal, concluded: “We were delighted to introduce our client to YBS Commercial Mortgages for this time-sensitive transaction.
“Thanks to the efficiency and expertise of the team, a smooth and successful completion was achieved. We look forward to working together on future opportunities.”
