Case Study - Florist with flats above

Commercial Mortgage Advice can manage semi-commercial classes

The case

Our client required an 85% Loan to Value (LTV) on a shop purchase with living accommodation which consisted of 2 flats.

Why Commercial Loan Advice?
The applicants, a husband and wife want to use the living accommodation as their principal residence.
Having been unable to obtain an 85% mortgage from the high street lenders due to a number of factors; the LTV was too high and a residential mortgage was not applicable due to the commercial element of the property. On approaching Commercial Mortgage Advice they were reassured that we could cope with such a high Loan to Value mortgage.

Commercial Mortgage Advice were only too happy to assist the couple. Within a couple of minutes our Independent Broker had identified that Commercial Mortgage Advice could help and set about getting a conditional offer to the Applicants within 72 hours.

The Commercial Loan Advice underwriter assigned to the case noted that the couple had a very good mortgage history, and previous experience in the florist industry and were happy to assist.

A speedy turnaround
Commercial Mortgage Advice's underwritten and credit checked conditional offer was with the customers within 72 hours.

They were happy with the deal and moved quickly to carry out a valuation of the property. Within 7 weeks of the conditional offer being sent, the customers had completed, moved into the flat above and were able to start trading as florists.

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