Recent Commercial Mortgage
Loan Type: Commercial Mortgage
Loan Amount: £660,000
Lender: Unity Trust Bank
One of our network partners Colin Howells of HCP Finance has recently secured a commercial mortgage for one of their clients!
The clients in this deal were looking to pay off mortgages currently in place – There was some benefit to keeping them in place due to their lower interest rates, however, the client decided it was still a good move to raise additional funds because the new deal would be on a repayment basis. (The existing mortgages were on an interest only basis).
The deal was placed with Unity Trust Bank, allowing the clients to settle the outstanding loans. Unity was selected as they satisfied the client’s 3 main concerns:
- Simplicity – One repayment at one time per month so easy to monitor and control.
- Good service from personal relationships – a bank where face-to-face relationships exist (which does not employ impersonal call center-oriented teams) and where a consistent level of service is available.
- Term – As long a period of finance as possible, to help with affordability.
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