For: Commercial Investment Property
Location: Belfast, N. Ireland
The Customer had debt of £50,000 with one of the ‘Big 4’ High Street Banks secured against a property (worth £120,000) however the Bank refused to support the Customer in purchasing a further investment property, despite having had a relationship for over 25 years.
The property to be purchased had a long lease, with an established Company, and was located in Central Belfast.
CS Finance were able to arrange a new facility of £250,000, at Bank base rate plus 5.5% per annum, to clear the existing Bank debt and assist in the purchase of the new property.