Our client had been approached by his landlord to purchase the premises he had been leasing for the last 15 years. It represented a fantastic opportunity to our client who was keen to make the purchase.
However, our client’s own bank was unsupportive of the proposal. To further complicate the issue 100% finance was required.
We approached a specialised lender and by using the equity in our clients residential property we were able to provide a commercial mortgage that provided enough finance to cover 100% of the purchase price, stamp duty and legal fees. Our clients did not have to part with a penny on day one.