The clients approached StreamBank via their broker to raise funds against a warehouse valued at £945,000.
The asset was owned by a PropCo, with rent paid by an associated OpCo.
There was an existing mortgage of £70,000 on the warehouse, which the client wished to repay while also unlocking funds for refurbishment works.
StreamBank delivered funding at 65% LTV based on market value subject to tenancies.
A rate of 0.84% per month was secured, with the facility to be repaid via a commercial term refinance with a challenger bank.
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Roz Cawood, managing director of lending at StreamBank (pictured above), commented: “The success of this case came down to a combination of underwriting expertise and deep business understanding.
“By taking the time to assess the OpCo’s strong trading position and cashflow, our team was able to leverage market value — subject to tenancies — to secure a higher loan amount.
“This allowed the client to meet both their refinancing and refurbishment goals.
“It’s a great example of how StreamBank applies commercial knowledge to deliver the right solution.”
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