3588 - From tenant to owner - mixed use property in Leyton

Name of case study: 3588 - From tenant to owner - mixed use property in Leyton
Loan amount: £245,000
LTV: 70%
Term: 12 months
Security: 1st charge
Product type: Mixed use

TAB has completed on a £245,000 first charge bridging loan against a commercial and residential property in Leyton.

The property consists of a two storey mid terrace building arranged as a retail unit on the ground floor - where the client was a tenant for over 20 years - and an interconnecting one bedroom flat arranged over the first floor.

The client had been trading in the security for 22 years and the opportunity to purchase the property came up, their exit is commercial term debt to refinance our loan.

The client was excellent, and it’s great to see them go from a tenant of 22 years to becoming the owner of the property. It was fantastic working with Lachlan Richie on this application, special thanks to him and Stonebridge Advisory Group for their support. I am looking forward to working with them again in the future. Sam Morris, Lending Associate