With high street banks and other larger organisations, getting a decision can take some time but with specialist lenders you will get definite and quick answers and work with specialists in this type of funding.

However, Bridging & Commercial heard from Finance 4 Business about a recent £1.125 million, 75 per cent LTV, commercial mortgage completed with Lloyds TSB.

A new client of Finance 4 Business was seeking a commercial property to expand into and after extensive searches they identified the perfect opportunity.

The property had a market value of £1.5 million and the client wished to raise as much as possible towards the purchase. They already had an offer on the table from a lender at 70 per cent LTV and valuations had taken place and also the legal process was underway.

The MD of Finance 4 Business, Russell Martin, received a telephone call from the clients after a recommendation and through his extensive knowledge of the market he identified the potential to raise the clients more than what they had already been offered. Russell wasted no time in arranging a meeting with Ian Clarke and Steve Wilkinson from LTSB at Finance 4 Business' head office in Kingsbury and after lengthy conversations the lender agreed in principle that funding of 75 per cent LTV was achievable and the loan attracted a preferential rate under the European Investment Bank Funding Scheme – a margin of 2.71 per cent OBR.

Time was certainly of the essence for two reasons:

(1) The client had to complete by the end of February

(2) Finance 4 Business and LTSB were four weeks behind the clients’ original lender of choice.

Due to the proactive and professional manner in which Finance 4 Business and LTSB acted they managed to progress the case from start to completion in just three weeks.

Following on from this Finance 4 Business have also received a further three deals from the client because they are so impressed with the way everybody has conducted themselves.

Russell Martin stated, ‘We at Finance 4 Business pride ourselves on the excellent working relationships we hold with the lenders and this deal is a great example of that. I am as always, very impressed with the way Lloyds TSB have worked tirelessly with Finance 4 Business to get this great result’

Steve Wilkinson, Seinor Business Development Manager at LTSB said, ‘This case is a classic example of understanding the needs of the client and using excellent team work to deliver an end result which exceeds expectations. Finance 4 Business and Lloyds worked jointly on this case to make it happen and throughout its journey we kept each other completely up to date on next steps. A pleasure once again to work closely on an important case for all involved.”