Challenger bank provides £425,000 loan for commercial development
Challenger bank provides ÂŁ425,000 loan for commercial development

Challenger bank provides £425,000 loan for commercial development

Hampshire Trust Bank has provided a £425,000 loan to a commercial property developer.

The challenger bank’s commercial mortgages team provided the facility, which will fund the refinance of five commercial units comprising both shops and offices.

The loan was brokered by Hertfordshire-based Specialist Commercial Finance with the £425,000 facility having an LTV of 43%.

Callum Sutton, sales manager at Specialist Commercial Finance, said it chose Hampshire Trust Bank due to its holistic approach to assessing the overall case scenario and its commonsense 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 (pictured above), said it prided itself on the strong relationships it builds with its 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.”

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