Asset finance brokerage Approved Business Finance (ABF) has secured a £13.2m corporate BTL facility for two property investment companies.
The loan was provided by Yorkshire Building Society.
ABF structured the transaction strategically to separate the residential elements from the borrowers’ semi-commercial portfolio, to secure better pricing.
By splitting the commercial elements, ABF was also able to keep assets unencumbered, further reducing costs and providing greater financial flexibility for the property investment firms.
According to the brokerage, the way the deal was structured enabled the borrower to save approximately £500,000 of interest over a five-year period.
The firm worked together with EMW Law — which represented both parties — and the deal was completed within seven weeks o the solicitors being instructed.
Laurie Baugh, managing director of ABF (pictured above), said: “This transaction is a testament to ABF’s innovative solutions and client-focused approach.
“We’re proud to be the first to secure the new owner-occupied mortgage, surpassing competition including long-standing, national firms, by offering the best combination of products to suit the borrower’s specific requirements, as well as the best value.
“I'd also like to express our thanks to the team at YBS Commercial for the proficient way they handled the transaction from start to finish.
“The end result is that clients can proceed with their ambitious development plans — which will serve the local area once complete — as well as ensuring that they have liquidity in the business for their ongoing operations.”
