Large Mortgage – Short Lease

THE SCENARIO

 

A £1m loan against a property with a 12 year lease, and subsequent additional funding to assist with the £2m cost of the 90 year lease extension.

 

OUR SOLUTION

70% loan-to-value on the purchase price (£1.45m), and then 70% of the £2m needed for the lease extension advanced within 6 months of completion. Facility cost was 3% over base on an interest only basis.

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