
TAB completes £2.8m commercial bridge to support portfolio expansion
The £2,804,750 loan was advanced on a first-charge basis with a 12-month facility at 65% loan-to-value (LTV).

The £2,804,750 loan was advanced on a first-charge basis with a 12-month facility at 65% loan-to-value (LTV).

An initial £2,065,000 was used to repay the existing facility, with a further £55,000 made available in arrears for outstanding works.

The loan was secured against a residential property at 61% loan-to-value (LTV).

The 12-month first-charge bridging facility completed at 63.1% loan-to-value (LTV), with interest fixed and retained for the term.

ScotLend used an automated valuation model (AVM) to assess the property, with the loan completed at 30% loan-to-value (LTV).

The six-month Low Rate Plus facility was agreed at 70% loan-to-value (LTV) and secured against three semi-detached buy-to-let (BTL) properties.

This gives brokers more flexibility to support clients looking to purchase or refurbish commercial property and access higher funding for a wider range of projects.

The loan was arranged with specialist commercial lender CSBF to help an established office developer buy the property.

The loan helped a customer refinance and restructure their borrowing.

Rob Johnson said: "We were able to clear the arrears, facilitate the purchase and help the borrower secure a property with substantial equity from day one.”

Enness provided a bespoke loan at around 55% loan-to-value (LTV), secured against the property.

The loan offers up to £4m in short-term funding for properties that include both residential and commercial space.
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