Hob Moor Road, Birmingham

Project Description

Our client co-owned a multi-use site in a residential area of Birmingham which consisted of 3 commercial ‘shop-front’ units and 6 flats where Albatross Capital instructed a valuation which came in at £600,000. The client required a bridging loan of £326,650 (54% LTV) in order to buy out his partner and clear family debts enabling him to acquire the property initially. He was unable to obtain a bank loan due to complicated money trails and messy lease agreements. Albatross Capital offered a flexible approach and their legal team cleaned up the lease agreements accordingly, this enabled the client to obtain a bank loan, providing a successful exit for Albatross Capital within 7 months of loan completion. Our client was extremely happy with the service provided and we expect to work with him again in the future.

Deal Summary
  • Loan amount: £326,650
  • Loan to Value: 54%
  • Term: Minimum 6 months, maximum 18 months
  • Exit: Refinance

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