Clever Lending has recently helped a business customer who needed to refinance a semi-commercial property.

The client required the refinancing to remortgage away from their existing, expensive variable rate deal with a term lender. It also wanted to raise capital in order to repay a private loan with a family member of the company directors.

The semi-commercial property consisted of three commercial units on the ground floor and 12 residential flats above. There was also a need to arrange a new lease for one of the commercial units as there was not enough time left on the remaining lease for lending purposes.

Matthew Dilks, commercial and bridging specialist at Clever Lending, placed the case with Hampshire Trust Bank as it not only offered the best rate on the market but also specialises in complex semi-commercial cases.

The refinancing was at 57% loan to value (LTV), with the £1,020,000 semi-commercial loan provided at 7.39%, fixed for five years.

Dilks (pictured) said: “This was a complex deal and it required all parties to work together to get it across the line. HTB’s business development manager, Wes Baker, and Melanie Franks, the bank’s senior completions officer, were key to getting the case successfully to completion. They both worked hard to get the leases and other legal queries resolved.

“This case perfectly highlights how a collaborative partnership is essential with complex, specialist lending cases. The outcome was ideal for the borrower, as they not only paid off the private loan but also ended up cutting around two percentage points off their rate.”

Wes Baker, business development manager at Hampshire Trust Bank, added: “With the strength of our proposition and the confidence in our appetite to lend on complex semi-commercial properties, I knew this had all the right elements of a HTB case where we could give concrete certainty that we’d be able to facilitate the deal.

“When presented with a complex case, ensuring we collaborate with the right property specialists that act with integrity, and efficiency, which Matthew always does, ensures we simplify the complex for clients and truly offer the multi-award-winning service we’re known to deliver.”