Our client had the opportunity to purchase her business premises from her landlord, however because her business is still in its infancy, the company accounts are showing limited profits currently. Rather than have to move to a new premises and continue to pay rent, our client was keen to find an alternative way to buy the property.
We considered at a business loan, but the monthly payments were in excess of £3,000 per month which was unaffordable to our client, so through our extensive knowledge of the financial market, we arrange a 2nd charge loan securing the client £110,000 against her residential home to purchase the business property and repay some business start up debts at a rate of 8.4% and a monthly cost of £884, which was cheaper than her rent!
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