Why it pays to use a finance broker: Complicated deal success

Anyone can apply for a commercial loan without the help of a finance broker. So, why bother engaging one?

A finance broker will leverage their expertise, industry connections, and negotiation skills to secure you the most competitive finance solution. Using a broker will save you time, money, and stress. Yet, more crucially, when obstacles arise, a broker will help get your finance agreement over the line.

To demonstrate our point, here are six recent deals that likely wouldn’t have happened without our input:

£947,000 to refinance a bridge loan used to purchase a B&B and a holiday let

The refinance solution required two banks to lend to the same limited company. We arranged the finance across both banks and coordinated three sets of solicitors. We also had to challenge the valuation on the holiday let, as the valuer wanted to classify the property for short-term use and not as a residential dwelling. The lender would have withdrawn from the transaction if we hadn’t successfully challenged this valuation.

£450,000 to partially redeem an existing lender and raise capital to cover legal and accountancy fees incurred by a partnership split

Drawdown took six months from the point of offer due to many delays caused by solicitors. At the 11th hour, the lender’s support team missed an Independent Legal Advice (ILA) requirement from our client’s parent. We intervened and worked with all parties to swiftly resolve the issues, and the drawdown went ahead

£408,000 for a new build holiday home purchase through a new limited company

Affordability was challenging, as the valuation report showed a low market rent against a loan of £408,000. We resolved this issue by demonstrating to the lender that the property would have a higher rental income as a holiday let, thereby increasing affordability for the mortgage.

£295,000 for a first-time developer to build two semi-detached properties

The developer had difficulty arranging finance as the loan was under £500,000, and he’d never carried out a new-build project before. We found an amenable lender, presented his case, and secured the funding.

£250,000 for a property at auction, for the client’s use in their dental business

Our client purchased the property at auction and waited two weeks before looking for finance. We were asked to obtain 100% funding within 10 working days! We negotiated an extension with the vendor and completed by the deadline.

£90,000 to raise funds for stock purchase and to pay a forthcoming VAT bill

After the initial offer was issued, we liaised with the lender to obtain a higher loan amount. Once the client received and signed the amended offer, we pushed the deal to completion within a week.

Whether you need finance to grow your business, begin a property development, or alleviate cash flow issues, we can help secure the money you need. If you’d like the benefit of a broker determined to get the deal done, please get in touch.