Watts Commercial Finance

Watts Commercial completes series of deals across Scotland

The Scottish branch of Watts Commercial Finance has secured funding offers totalling over £700,000 for three clients, with all facilities being fully approved less than seven days after being submitted.

The team was able to complete a £35,000 deal for a roofing company, which required capital raise for the acquisition of a second yard, in line with its business expansion plans.

The facility was agreed at 70% LTV on a 4.39% interest rate for 10 years.

The second case arranged by the specialist broker was a £523,500 commercial mortgage for a calls solutions firm to purchase a larger space to grow the business.

The deal was completed at 70% LTV with 3% interest rate, on a 10-year loan term.

Lastly, Watts Commercial Finance secured a £175,000 commercial mortgage facility for a water treatment company to buy an additional unit.

The loan was agreed at 70% LTV with 3.2% interest rate on a 15-year loan term.

Dean Thomson, commercial manager at Watts Commercial Finance (pictured above, right) said: “The Scottish finance market is very much open for business and I have seen a huge flurry of activity from firms across the country. 

“It’s also fantastic to be able to advise and support business owners on their finance requirements, while hearing their positive and ambitions plans for the future. 

Emma Ross, commercial manager at Watts Commercial Finance (left) added: “In spite of the pandemic, many companies are taking a step back and reassessing their business. 

“It’s also very encouraging that the Scottish finance market has remained buoyant, with many lenders still taking new enquiries, valuations taking place and deals being underwritten.”

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