Name of case study: 2999 - Leytonstone, London
Loan amount: £1,120,000
LTGDV: 70.00%
Term: 12 months
Security: 1st charge
Product type: commercial
TAB completed a first charge commercial loan of £1,120,000 secured against a medical centre in Leytonstone, East London. The property is comprised of a ground floor and mezzanine level commercial unit, with nearby retail shops such as Argos and Costa Coffee.
TAB’s facility reflects 70% LTV for a term of 12 months. The borrower, who is currently the tenant and a successful private medical and wellness service provider, required the loan as the opportunity to purchase the property arose and they needed to complete swiftly. The bridge has allowed the borrower the necessary time to organise their long term finance strategy while continuing to run their successful business.
If not for the continuous effort, exceptional communication and efficiency between both solicitors, valuers and the underwriting team, we may have seem some detrimental delays that could have proved costly for the client. Harry Rose from DS Property Finance, Adam Hattersley from Fieldfisher and Faith Ndelbele, TAB’s underwriter, worked diligently on this case and their joint efforts meant another client managed to secure the funds they needed to complete their purchase swiftly! Sam Morris, Lending Associate
