TAB has completed a £1.008 million commercial mortgage to refinance existing borrowing and release additional capital to support a borrower’s future business growth.
The five-year facility was introduced by Melius Commercial and secured against a portfolio of office properties in St Helens, Merseyside, and Tamworth, Staffordshire.
The funding enabled the borrower to refinance an existing loan while raising additional capital to support wider business objectives.
TAB said the facility was structured after assessing the borrower’s asset base, business circumstances and proposed exit strategy.
The loan was secured against office properties with established commercial use. The lender worked alongside the broker and professional advisers throughout the transaction to complete the deal within the required timeframe.
TAB said the transaction reflected continued demand from borrowers seeking longer-term funding solutions that allow them to refinance existing facilities while accessing additional capital.
Ben Humphreys, business development manager for the north of England at TAB, says: “This case demonstrates how commercial mortgages can be used not only to refinance existing borrowing but also to release capital that supports future growth plans.
“The borrower was looking for a funding solution tailored to them, that would allow them to refinance an existing facility while providing additional liquidity. We were able take a considered view of the asset base, business context and exit strategy to structure a solution that was aligned to the borrower’s long-term plans.
“At TAB, we are focused on bringing momentum to lending and helping brokers and borrowers access funding when opportunities arise. And we have an appetite for well-structured commercial property transactions.
“While commercial mortgages have traditionally been associated with longer timescales, borrowers increasingly expect quicker decisions and faster execution. Our aim is always to deliver commercial mortgages with the responsiveness the market demands, and here we were able to provide a commercial mortgage at bridging speed, while maintaining a disciplined approach to underwriting.
“This transaction is another example of brokers seeking funding solutions that combine certainty of execution, speed with the flexibility and pragmatic approach to underwriting required to support their clients’ longer-term objectives.”
The underwriting for the transaction was carried out by Waheeb Husaini.
Daniel Jones, director at Melius Commercial, adds: “TAB made this transaction really easy, from start to finish. We faced a few hurdles initially with valuations; Waheeb handled everything really competently.
“It makes a change when a lender proactively looks to fund a deal, helps when in legals and keeps all parties informed. The full team at Melius Commercial really appreciated it.”
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