At Key Commercial Finance we pride ourselves on having the expertise to help a wide range of businesses and property professionals secure finance for their many types of projects.
Providing trusted advice for over ten years has put us at the forefront of specialist finance enabling us to help customers get the funding they need at the most competitive rates and on the best terms.
Here are just a few examples of how clients were able to move forward with Key Commercial Finance.
Supporting A Growing Accountancy Practice
Our client, an accountant needed £50,000 to enable him to purchase a block of fees from another practice. We arranged a £50k unsecured loan over 5 years at very competitive rates. The process was completed in 7 days, from the initial conversation with the client, to the funds being in his bank account.
Finance for a Landlord to Grow Their Portfolio
Our client, already a successful landlord, required funds to complete a hotel refurbishment in order to continue to grow their property portfolio and the first charge lender wouldn’t advance further funds. The Key solution was to source a second charge for £160,000 over 5 years.
Permitted Development Office Conversion
A client had acquired an old office property to develop into two self-contained flats. They purchased the property with their own funds for £95,000 and they needed £70,000 for the conversion, which was valued at £300,000. They were declined by their own bank and other lenders. However, using our in-house finance company YPFL, we were provided the funding plus an additional £10,000 to cover overrun costs.
Development Finance for New Builds
Key sourced and arranged a £15m loan for new build apartment scheme in South East of England. As there was a good profit in the scheme and loan to GDV was good 50%, the lender accepted a minimal contribution from the client – in this case only 10% towards total costs including the land acquisition. Competitive rates were achieved with a set-up fee 2% and an exit fee based on GDV applied.
Invoice Finance for Better Cash Flow
We helped a fabrication business find an alternative Factoring facility due to the current lender wanting to exit the facility. Due to poor administration processes invoices were becoming disallowed for funding. However, we found a new lender who worked closely with the client prior to the facility going live and helped ensure the admin issues were addressed. They then provided a £100,000 funding line at 80% prepayment.
Renovation Finance for Vacant Pub
We were delighted to achieve 100% funding to finance our client’s first refurbishment – a redundant pub next to a supermarket which they were converting it to a retail unit. We obtained a valuation at a level substantially higher than the purchase price and we were able to satisfy the lender that the reason for the discount to valuation was genuine. Key then obtained 100% bridging finance over 12 months to allow time for the conversion and tenants to be acquired.
Barn Conversion Project
Our client required funding to purchase a barn in York to be converted into a two bed single storey dwelling. The agreed purchase price was £175,000. This was the first project for the new company and the client had no prior development experience. However, it was a family business, and they were keen to build up their own track record in development. We successfully arranged a 12 month loan for £185,000 on a GDV at £400k and an LTV of 69%.
Whether finance is required for new build schemes, acquiring unmortgageable property, renovating buy to lets and HMOs or changing the use of a building, our knowledgeable team can help deliver finance for business cash flow, commercial developments or residential investment premises by sourcing funding from the whole of the market. Get in touch to see how Key can get your project moving forward.