We completed a £10.8m commercial portfolio term loan to support the expansion of a client’s established Asian food supermarket business across London and the South East.
The transaction involved the remortgage of four owner occupied assets, a mix of warehouse and retail units. By refinancing at a lower rate, we released equity to support further business growth and future investment.
One of the four units had a reletting period of 15 months, exceeding our standard 12-month policy. We addressed this by taking a flexible, holistic underwriting approach, supported by strong account performance, capital and interest repayments, and the fact that the remaining three units met policy.
Potential exit routes include the sale of individual properties (likely with vacant possession) or a future remortgage of the portfolio.
Marc Callaghan, Head of Commercial Lending, InterBay, said: “This case highlights how owner occupier finance can play a vital role in supporting business development, a key part of InterBay’s proposition. Thanks to the expertise of Simon and our underwriting team, we were able to deliver a funding solution that met the client’s ambitions despite a policy challenge. We’re delighted to support the next phase of the client’s business expansion.”
David Kay, Director, Synergy Commercial Finance, said: “InterBay were exceptional throughout, with particular thanks to SFAM, Simon Ward and the underwriting team. Their proactive approach and commitment were instrumental in getting this deal completed. They consistently went above and beyond to ensure steady progress, acting as true partners rather than passive facilitators.”
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