Ltd Company Loan using 3rd Party Security – completed in 5 days!

Deal Structure

15% LTV

£200,000 net facility amount – Bridging Loan

2% Arrangement Fee

Interest at 0.85% per annum.

No Exit Fees.

12 months term

Deal Summary

Positive Commercial Finance were approached by an existing client with a requirement for a very quick loan. Our client had a development project in a Limited Company and needed £200,000 very quickly to plug a funding gap. Positive Commercial Finance were approached at 9am on Monday morning with this requirement.

The director had a property with no existing mortgage on the property. The funds were to be used for business purposes only. Terms were agreed with a boutique lender with the lender taking a charge on the property with the loan being made to the Limited Company which was carrying out the development. The loan was to be repaid by sales of the units in the development.

As the Loan to Value was so low we negotiated with the lender that no valuation was needed. This helped speed up the process. Terms were agreed Monday morning and legals were started Monday afternoon. The loan completed on the Friday.

The final result being another happy customer of Positive Commercial Finance