Case Study 1
Commercial Mortgage

After approaching their own bankers and a local broker who required an upfront fee before approaching any lenders Mr & Mrs R were referred to us.

Despite several promises of finance the client had not been successful in securing any reasonable offers of finance for their proposed hotel purchase for which a purchase price of £750,000 was being discussed.

We were able to advise the clients with their negotiations for the purchase and they eventually secured the purchase at a price of £720,000.

We were able to see that the clients problems with the finance arose in two areas, namely the historical figures for the business and the fact that the client needed to sell their own property to provide a stake.

We prepared a professional presentation of the facts and worked with the client to produce realistic income projections to present to our lender panel. After lengthy discussions with a number of lenders we were able to secure facilities totalling £504,000 for the Hotel and a remortgage of their home for the balance of the purchase price. The Hotel loan was offered at 1.75% over Base with a 1% fee.

“Thank you for your efforts in securing the finance and helping us to realise our dream”.

The products and services promoted here are not part of the Openwork offering and are offered in our own right. Openwork Limited accept no responsibility for this aspect of our business. These products are not regulated by the Financial Services Authority.

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