Case Study – Raising Finance

Whilst having a regular conversation with one of his clients, one of our Directors was advised by the client that they were looking to buy a piece of land adjacent to their property but were struggling to raise finance.

 The best that they had been offered was 70% of the finance required by a company who was willing to lend them the money at an interest rate of 18% per annum. The Director who was familiar with their affairs confirmed with them that they had a separate property that was unencumbered and approached a finance company with whom we deal, who were willing to lend the full amount at a significantly lower interest rate secured on the prospective property and the unencumbered property.

The result of which was that the client was able to borrow the full amount of the money and had an interest charge less than they would have had from the proposed lender who was only willing to lend them 70%.