107915 - £470,000 commercial bridging loan against a freehold nursing home in Kent

TAB facilitated a £470,000 commercial bridging loan for a term of 12 months at an LTV of 47.00%.

The property is a commercial freehold, operating as a 30-bed nursing care home for under and over 65s. Originally a Grade II listed Edwardian manor house built in 1910, the building has been extended and converted for care home use over time.

The key challenge was the low Care Quality Commission (CQC) rating, which required improvement to secure its future. TAB’s balanced funding solution provided the borrower with the necessary capital to purchase and develop the property, aiming to increase the CQC rating to 'Good' by improving the quality of care and facilities.

The client plans to exit the loan by refinancing through another lender, consolidating their care home portfolio with a term loan.

We understood the importance of helping the borrower improve the care home's facilities and CQC rating. By providing a tailored, flexible solution, we were able to support their goals and ensure they could proceed with their plans efficiently. It was great to be a part of their journey towards delivering better care for residents. Sophie Meller - BDM