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Commercial Loan
Time was of the essence – dual use for property in Worthing
Location - Worthing
Property Value - £1.6m
Loan Amount - £775,000
Loan Type - Commercial
LTGDV - 50%
Lending need:

An offshore investor identified an office investment with the opportunity to add value by renegotiating the lettings and converting part back to residential use.

Result:

We provided a facility for the purchase and time for the improvements to be carried out. It was found that a longer period was necessary and thus we extended the loan for a second year.

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