TAB provided a £124,000 commercial mortgage for 84 months, secured against a commercial property in Smethwick, West Midlands, with an LTV of 65.26%. 

The property is a detached industrial unit with a brick and steel exterior and a single-storey layout. It includes a yard to the front and is in a reasonable condition for its age and use. 

TAB was comfortable providing the mortgage at 65.26% LTV, supporting the borrower’s plans to secure the site within the required timeframe. 

The funds will be used to purchase the property, alongside additional capital provided by the borrower. They plan to carry out cosmetic improvements and use the building to store equipment and machinery for their business operations. 

The borrower’s exit strategy is to refinance the mortgage at the end of the term.