Complex Mixed-Use Property Refinance
The borrower
Claudia already owns 1 BTL property and has recently inherited a large Mixed-Use (part commercial) property from her father. Over the years her father had converted the property so that it is now configured as 3 large commercial units with 18 residential flats above. Due to the changes that have taken place to the property some of the flats had their own leasehold titles (all of which were owned by her late father) while others don’t.
- Property Value £1.8M
- Loan Required £900k
- 18 Residential Flats
- 3 Large Commercial Units
How we can help
At Solutions by Foundation, with our Mixed-Use Products there is no maximum number of units on one freehold title so as Claudia had decided to surrender the leases that were in place and merge them into the Freehold Title.She was then able to refinance the whole property with us.
At Foundation we are able to lend up to £3 million at 70% LTV on mixed use properties that are a combination of commercial and residential units all on the same Freehold Title.
We love to talk a case through, why not call your Foundation Regional Area Manager today?