1st Charge – £500K
2nd Charge – £325K
0.25% interest on undrawn balance
1.05% interest on drawn amounts
What was the property?
A £2.15M property based in London; a beautiful converted Victorian school house.
Who was the client?
The client was a high-profile individual, well-known within the fashion industry.
What were they looking for?
My client was looking for a loan to assist with her international fashion business, which was growing rapidly. It had to be flexible enough that she could withdraw funds at short notice and, ideally, only be charged interest on the drawn amounts. She found high street banks were unable to assist her with finance to support the necessary cashflow for expansion, as the products they offered did not provide the flexibility she required.
Why was this case difficult?
No such facility existed in the market at the time, which is why she approached us at Enness; we specialise in bespoke property finance solutions, and I was happy to assist.
What was the process?
A specialist lender, with whom I have a proven and trusted relationship with, allowed me to negotiate a bespoke product for my client which would facilitate her needs.
I was able to arrange a loan of £325K, which would be made available to her over 2 years, secured as a 2nd charge on her current residence. This would give my client complete flexibility and necessary capital to expand her company.
This custom product charged a very low base interest rate at 0.25% charged on undrawn amounts and a higher rate at 1.05% on the drawn rates, which suited her requirements perfectly.
My client was extremely happy with the flexible facility I had managed to secure and could finally continue making waves within the fashion industry. This was only possible because of the strength of my influence and relationship with the lender who assisted me in creating this bespoke product.
This is just one example of how Enness can help new and established businesses succeed where the high street banks may not have the facility to do so.
For more information, or if you would like to discuss your own property finance requirements, please get in touch on +44(0)2037589393 or email us at firstname.lastname@example.org.