104704 - A £2,112,000 commercial bridging loan to refinance and capital raise on an office property

Case study: £2.1m commercial bridging loan to refinance and capital raise on an office property

Loan amount: £2.1m

LTV: 65%

Term: 9 months

Security: First charge

Product type: Commercial bridging

The client secured a £2.1m commercial bridging loan from TAB for a term of nine months at an LTV of 65%. The purpose of the loan was to refinance and capital raise on an office property.

The borrower was known to TAB, having previously obtained a £800k 12-month bridging loan in 2023 for a similar purpose of refinancing and capital raising on a commercial property.

TAB's bridging loan refinanced the existing lender. The cash-out amount of approximately £160k enabled the borrower to complete the remaining refurbishment works.

TAB's commercial bridging loan enabled the borrower to refinance the property and raise additional capital to complete refurbishment works.

This deal exemplified the positive results that can be achieved when all parties work collaboratively towards the shared goal of closing smoothly and efficiently. The broker and borrower were organised and provided us with all necessary information and documentation in a timely manner. Our team worked seamlessly together to underwrite the loan, allowing us to provide a quick completion for this transaction. Justice Marima, Underwriter