Date: 14th July 2023
Broker: Peter Davies
Loan amount: £8,686,805
Structure: Limited Company
Asset Class: Semi-commercial
Coreco Specialist were referred to help refinance existing facilities for a range of semi-commercial properties.
The current ownership was a mix of a limited company and personal names with personally owned properties to be incorporated into limited company ownership at the point of completion.
The properties were currently with different lenders and the refinance was completed with two separate commercial banks with deeds of priority needing to be agreed upon by the client’s solicitors and both bank’s solicitors.
This was further complicated by deadlines to complete the refinance to avoid penalty charges and the completions with both lenders taking place at different times.
Total borrowing £8,686,805