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Brightstar helps client buy out 2 partners on a semi-commercial property

Commercial finance case study of the month - February 2018

Objective

In partnership with her ex-husband and brother-in-law, our client owned a semi-commercial property comprising of 10 flats above a commercial shop. The flats were let out and the shop was vacant at the time of the enquiry.  Our client was looking to re-finance the property, buying out the 2 other owners.

Obstacle

The letting agent hadn’t been paying the clients the full rental income, and, as a result the 2 other partners went into receivership.  The case had been declined by 2 lenders by the time Brightstar had received the enquiry.

 

 

 

Outcome

 

Brightstar sourced a lender, obtained an offer and managed the case through to completion within 5 weeks of receiving the full application.

 

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