Hampshire Trust Bank provides loan for commercial development
Hampshire Trust Bank’s Commercial Mortgages team has provided a £425,000 loan to a commercial property developer.
Brokered by Specialist Commercial Finance, the facility, which has an LTV of 43%, will fund the refinance of five commercial units, comprising of both shops and offices.
Callum Sutton, sales manager at Specialist Commercial Finance, said: “Hampshire Trust Bank was selected primarily due to the holistic approach in assessing the overall case scenario and a common sense approach.
“The client wished to capital raise the £425,000 for future property investment. An interest-only facility over 10 years was an attractive feature and the simplistic application process was appealing to the client as well as the element of speed. The client has since applied for further borrowing on other properties within his overall portfolio.”
Colin Bell, managing director of commercial Mortgages at Hampshire Trust Bank, said: “We pride ourselves on the strong relationships we build with our introducer partners. We understand that when it comes to securing finance for the next commercial property deal, time is of the essence. We look forward to working with Specialist Commercial Finance again and helping their clients access the funding they need to grow their commercial property portfolios.”
Hampshire Trust Bank’s Commercial Mortgages team provides structured specialist lending with tailored solutions for SMEs, trading businesses and investors. Offering bridging and term finance secured against buy-to-let, semi-commercial and commercial property with loan amounts from £100,000 to £10m.