Interest Rate update as at December 2020 Possible negative interest rates We continue to live in unprecedented times in the UK! The Bank of England checking with the High Street Banks to see if they have the systems to in place for negative interest rates (we believe some haven’t….). Impact on savers Negative rates could mean that savers are penalised …
Lender Update & CBILs for property Investors
How are lenders reacting to the current economic situation? High street lenders The main Banks have definitely toned down their appetite. A number have virtually closed their doors to new loans. Others have reduced the scope and level of their appetite. In short lenders are more cautious. Buy to let lenders and challenger Banks These lenders have made some modifications …
Finance for your holiday let
Buying a holiday cottage is a long held dream for many, but can the financing also be described in this way? Perhaps in 2020 you want a “Staycation” – and buy your own holiday property! Reasons to be cheerful You love the place and can see good business reasons. A healthy rental stream from all the punters who share your …
Finance for your Pharmacy
Are you thinking of buying your own pharmacy? Or perhaps you are considering how to finance growth of a pharmacy that you already own? Or do you just want to look at refinance options? Is your Bank reluctant, slow or overly cautious? If your own bank is reticent, we have funders with significant appetite for the pharmacy sector. We can …
Funding Circle enter the CIBLs market
COVID Business interruption loan scheme (CIBLs) – Funding Circle enter the market In a queue for a CIBLs Loan? Most of the mainstream lenders are putting their own customers first in considering whether to grant an emergency CIBLs loan. So are you a with a Bank that is not part of the CIBLs scheme? Are you in a long queue …
CIBLs – Require funding? Has your loan application been declined?
To date only c.5000 loans have been approved and drawn via this flagship scheme. Many others have been declined, whilst other remain “in limbo” as the Banks seek more information or get caught up in a queue of pending cases. There are around 50 CBILs accredited lenders and partners. Some of these specifically seek to help businesses that have been …
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.
Bridging Loan to refinance existing debts
Our client was looking to raise funds to consolidate existing debts (incl VAT and rates arrears), raise funds to carry out works on his commercial property and for additional working capital. Security comprises of garage & forecourt, retail unit, joinery workshop and land to rear with 2 leased units. 12 months Bridging loan of £215k provided by our sister company …
A few of our recent cases
We thought we would share some examples of the cases that we are currently working on. Whether it be a straight forward funding requirement, or something more complex, our team of experienced Consultants can help. Brand new restaurant for two first time Restaurateurs • Clients in their 30’s, both in the industry, one a chef the other a manager/ front …
Recent deal from Key-£350k funding for land purchase!
Client approached Key as they required assistance in purchasing land and property assets. Client wanted to expand their business, which has seen steady growth over the last 5 years. Funding was based on historical accounting information and needed to incorporate the residential home of the owners. How did Key assist? After speaking with several lenders, an high street lender agreed …