Find a lender before you find a property

Sometimes it’s better to know how much money you can borrow before you begin searching for a property.
This was recently the case when a client, Paul Archer came into our London office looking to gain an understanding of how much he could borrow before he started looking into properties to relocate his architectural company – Paul Archer Design.
Paul instructed ASC to act on his behalf and requested us to negotiate with our trusted panel of contacts including commercial banks and specialist finance lenders to gain confirmation of terms. Paul also conducted the same exercise with his bank to consider their lending rates.
When Paul came back to meet with ASC he found that we had been able to agree a better deal with a higher loan to value ratio and a cheaper rate of interest than his own bank.
Paul, knowing how much he could borrow, started looking for a property at a price that was within his lending criteria. When he found a property, he was able to negotiate a better price because he already had the finance agreed and could put forward a clear time schedule.
As Paul said; “ . . . using ASC, I was able to prove to the estate agents that I had my finance already in place which enabled us to move a lot faster and gave me more leverage when discussing the price.”
Paul has now taken ownership of the property in Farringdon, London and is currently in the process of putting his own finishing touches to the building.
Speak to ASC before considering the finance for your business and we’ll be able to deliver all of your lending options and advise you in obtaining the right purchase for your needs.