Brightstar’s team of commercial finance experts were able to source a mortgage via a challenger bank who were willing to lender against one year’s full accounts and up-to-date management information. Brightstar were able to raise £188,995 on £285,000 so the landlord is now operating the pub as a freeholder, having beaten the right to buy deadline.
This case study demonstrates that commercial mortgages are still available post Covid-19, even for industry sectors that have been hardest hit by the pandemic.
Summary of case:
- Advance – £188,955
- Rate – 5.5% + BBR
- Term – 25 years, capital repayment
- Commission paid to introducer – £1,944
SUBJECT TO STATUS.
PRODUCT AND CRITERIA AVAILABILITY SUBJECT TO CHANGE OR WITHDRAWAL AT ANY TIME.
FOR INTERMEDIARIES ONLY.