Mr Shepherd ran a small parcel delivery business and approached us to to help secure a commercial mortgage to buy a warehouse facility he had been renting for several years
The freeholder was looking to retire and move to overseas. He had given Mr Shepherd first option to purchase, but it was subject to confirmation of funding within two weeks and completion within six weeks. Mr Shepherd didn’t have much time.
We moved quickly and completed our case summary the same day and has an agreement in principle with 24 hours for a 70% advance of £400,000 tracking at 3.75% over the bank base rate with a 1.5% lenders fee.
Within three days the commercial valuation was organised and completed with a satisfactory report to hand within the week.
Solicitors were instructed in week two with all searches and due diligence completed by week four.
By week five the funds were drawn meaning Mr Shepherd could secure his option to buy and complete one week ahead of the tight schedule.
We fully managed the whole process from start to finish for Mr Shepherd while he got on with running his delivery business.