Smart Money helps brokers client raise £413,500 to purchase a local pub.
Many brokers and advisors do not realise we could help with business loans. Instead of raising capital using traditional commercial finance which could be very expensive, your client could raise money by releasing equity from their residential property using a second charge mortgage. At Smart Money we have close links with our specialist lenders and access to exclusive rates.
Our most recent case was a client raised a total of £413,500 for the purchase of a local pub using Smart Money. The client’s residential property was worth £650K and used a second charge mortgage to raise £285K for the mortgage deposit to purchase the pub, securing a 10-year term at 6.49%. This allowed the client to raise a First charge commercial mortgage worth £128,500 on the pub for a 10-year period at 6.99%. This option has allowed the client to save a considerable amount of interest as well as raising the capital they desperately needed to secure the pub.
If you have a client looking to purchase a business, give us a call today to discuss your case with one of our CeMap qualified advisors. We could work with your clients to ensure the right outcome is achieved whilst providing you with updates, allowing you to focus on your core business.