£780,000 raised for a garage to buy its premises!

Our clients have a long-established successful car repair and diagnostic business and were trading from rented premises.   The landlord approached our client advising he was selling the freehold and gave our client first refusal on the property. Our client approached their own bank and received a blunt decline. ASC Herts & Beds were introduced to our client by their residential mortgage broker.

Simon Mullens of ASC Hertfordshire/Bedfordshire met with the clients and after an initial meeting ASC were instructed to proceed to arrange £780,000 of finance for the client. There were many variables to the purchase, however, after over 9 months of liaising with valuers, Solicitors and the vendor completion successfully took place.

Another successful case for ASC Hertfordshire and Bedfordshire.

Simon Mullens, ASC Director for Herts and Beds said “We were delighted to help get this loan over the line. Our client was presented with an opportunity to secure the future of their business, but once they had been declined by their bank, they didn’t think it was possible. Fortunately, they were referred to us, and we were able to source the right lender, and were able to complete the purchase!”