Business Premises Relocation

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Our clients have experience in private hire, individually on a sole trader self-employed basis which covers their own personal / family living expenditure.

Their business is geared towards longer term contracts and had a successful first year trading. Their annual income from contract work would grow year on year when they move to their new premises.

They had located an older double fronted warehouse unit and yard which was perfect for their future plans and progressions. The size of the property and yard would enable their planned growth without the need to move again.

Finance Terms

Naturally our clients were looking for the best deal possible deal, from submission of their details the lender took only 24 hours to request a meeting with them.

  • Loan Amount – £119,000
  • Valuation – £150,000
  • Rate – 3.1% over base
  • Term – 15 years
  • Monthly Payment – £769.00
  • Repayment Method – Repayment
  • Lender Arrangement Fee – £1,785


The property was not in the best of conditions, the valuer commented that there were about £25,000 worth of repairs. There was also a tenant in situ and the lender needed confirmation that the property would be vacant upon our client’s possession of the property.

Working closely with the client and the lender in tandem we were able to provide the lender with quotations for the works that were needed which was substantially less than the valuer’s estimates, the valuer did confirm they were acceptable and we were able to proceed without any further issue. Also the issue on the tenant was also quickly resolved with an agreement put into place which all parties were happy with.


About The Author

This content was produced by our Commercial Lending Director, Gary Hemming. Gary has over 15 years’ experience in financial services and specialises in bridging loans, commercial mortgages, development finance and business loans. He is widely respected in his field and regularly provides expert commentary for specialist trade publications, specialist business press as well as local and national press.

Gary Hemming CeMAP CeFA CeRGI CSP  -  
Commercial Lending Director

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