Congratulations to our Director, Ryan Atkins, on the successful completion of a £555,000 commercial mortgage, supporting the refinance of an existing property and the acquisition of two additional properties.
The Requirement
The client initially approached Ryan to fund the purchase of one additional property.
By utilising two existing unencumbered properties, Ryan was able to structure a facility that funded 100% of the original purchase, while also enabling the client to acquire the neighbouring property with 100% of the purchase price funded.
This resulted in the client being able to acquire two additional properties while making effective use of their existing unencumbered assets.
Overcoming Challenges
The case presented several challenges along the way.
An initial down valuation was successfully appealed and overturned by Ryan. Issues relating to a deed of easement also needed to be resolved as part of the transaction.
Through careful structuring, persistence and working closely with the relevant parties, the hurdles were overcome and the funding required to complete the transaction was secured.
The Result
The completed £555,000 commercial mortgage supported the refinance of existing property and enabled the clients to acquire two additional properties.
The facility provided:
- 100% of the purchase price for the original property
- 100% of the purchase price for the neighbouring property
- Funding structured using two existing unencumbered properties
Ryan Atkins commented:
“I am delighted to have assisted these clients in successfully completing this transaction and helping them expand their portfolio.
The case certainly had its challenges along the way, including an initial down valuation, which I was able to successfully appeal and overturn, alongside resolving issues relating to a deed of easement.
Through careful structuring, persistence and working closely with the relevant parties, we were able to overcome these hurdles and secure the funding required to complete the transaction.
The finance has enabled the clients to acquire two additional properties while making effective use of their existing unencumbered assets.”
