Case Study - Barbershop looking to remortgage

Commercial Mortgage Advice react quickly

The case

One of our brokers submitted a case for a remortgage which had to be a quick completion. The Applicants had an opportunity to purchase another property at a low price but had to complete the transaction at short notice in order to raise funds for a deposit.

Why Commercial Mortgage Advice?
Having understood the requirements and quick turnaround needed to secure this purchase Commercial Loan Advice quickly reviewed the case and within a few hours we were able to send across a conditional offer request form (CORF) for the applicant to complete.

Once sent back the CORF was given to a senior Commercial Mortgage Advice underwriter who assessed the case and could see that the Applicant had a very good borrowing track record and a relatively low Loan to Value (LTV). By selecting various options on the mortgage terms, they were able to benefit from a margin of 3% above the bank base rate even on a fully self-certified basis.

A speedy turnaround
Just over 24 hours of assessing the case, the customers had received Commercial Loan Advice's underwritten and credit checked conditional offer.

The Applicant was happy with the deal and carried out a very quick valuation of the property. Within 4 weeks of the conditional offer being sent, the Applicant had completed as required.

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