Clever Lending Refinances £1m Semi-Commercial Property with HTB

“This case is a prime example of the importance of teamwork in dealing with intricate specialist lending cases. Thanks to the collaborative effort, the client not only managed to pay off a private debt but also achieved a significant reduction in their interest rate.” – Matthew Dilks, Clever Lending

The client needed to refinance to switch from their high-cost, variable-rate mortgage to a long-term lender. They also aimed to secure additional funding to repay a private loan owed to a relative of one of the company directors.

The property in question included three commercial spaces on the ground floor and twelve residential flats on top. Furthermore, a new lease agreement was necessary for one of the commercial spots due to the current lease’s insufficient duration for lending requirements.

Matthew Dilks, an expert in commercial and bridging loans at Clever Lending, chose Hampshire Trust Bank (HTB) for this deal. HTB’s competitive rates and expertise in complex semi-commercial financing made them a suitable choice.

The deal was sealed with a loan-to-value (LTV) ratio of 57%, comprising a £1,020,000 loan for the semi-commercial estate at a 7.39% fixed rate over five years.

Matthew Dilks explained: “Negotiating this deal required a concerted effort from all involved. Key contributors from HTB, Wes Baker, a business development manager, and Melanie Franks, a senior comptroller of completions, played an essential role in addressing lease issues and other legal matters to carry the deal to completion.

“The success of this partnership underlines the necessity of collaboration in complex, specialized financing. The client greatly benefited by settling their private loan and reducing their interest rate substantially.”

Wes Baker from HTB remarked: “Given our strong lending proposition and willingness to take on intricate semi-commercial property deals, I was confident that we could execute the agreement effectively.

“When tackling complex transactions, it’s crucial to work with property experts of integrity and who act swiftly, qualities that Matthew exemplifies. This ensures that we deconstruct complexity for our clients and continue to provide the top-notch service we are acclaimed for.”