YBS Commercial Mortgages

Mesa Financial and YBS Commercial Mortgages complete £3m deal

YBS Commercial Mortgages has completed a £3m debt facility, together with Mesa Financial and Goldbridge Partnership.

The 75% LTV facility, agreed on a 10-year loan term, allowed the client to incorporate their 19 properties worth £4.1m — 17 leasehold and two freehold — into their newly formed limited company.

The deal posed some difficulties, as five of the leases were shorter than the client had originally disclosed.

Despite this, the lender, brokerage and chartered accountancy worked together to overcome the challenges, and YBS Commercial Mortgages was able to provide all the loan funds the client applied for from the outset.

The tax advice was given by Goldbridge Partnership, which was set up by Mesa Financial’s directors to focus on property tax planning.

James McGregor, director at Mesa Financial (pictured above), said: “This transaction is a great showcase for the offering we are building between us and Goldbridge Partnership. 

“We noticed there was a huge gap in the market to be able to offer tax planning on property transactions, so it is great to see our vision is coming alive.

“As always, we have been extremely impressed with YBS Commercial Mortgages’ approach to this transaction. 

“We were able to overcome all the hurdles that a transaction of this nature typically faces and are building a great relationship with YBS Commercial Mortgages at the moment, long may it continue.”

Matt Barlow, relationship manager at YBS Commercial Mortgages, added: “It is a pleasure to get another sizeable deal over the line for Mesa Financial.  

“The case was fully packaged from the outset, which meant we progressed matters quickly.  

“As is to be expected, 19 properties did throw up the odd issue in terms of valuation and conveyancing — however we overcame these with the help of James, our underwriters and our legal team.”

Chris Morris, director at Goldbridge Partnership, stated: “It is great to be able to work so closely with an advisory firm such as Mesa Financial. 

“This clearly shows the value that can be brought to our clients when the professional teams work in tandem. 

“We believe we can take this type of collaboration to other brokers in the market and offer their property professionals the valued tax advice they need.”

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