- Amount – £500,000
- Term – 1 year
- Purpose – To assist with the purchase of a mixed commercial property portfolio (purchase price £575,000)
- Summary – The client was acquiring a mixed portfolio of agricultural land and a couple of residential properties all on the same folio. There was little existing income generation with no formal leases in place. The client needed to acquire the entire asset quickly and the 1 year bridging loan gave him time to subdivide the title and access points for the residential properties and the land. He then refinanced the residential properties using buy-to-let mortgages and conquered the land on a new lease which allowed the residual debt to be refinanced into a medium-term commercial loan facility.
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