Chinese Restaurant - West Midlands
- Location: West Midlands
- Amount Required: £30,000 max
- LTV for entire deal: 70%
- Sector: Purchase
LTV represents Loan To Value, where Value is an up to date valuation of the property involved and Loan is the total amount to be lent to the borrower, including the Investor's loan.
Client is buying a Chinese Restaurant. He needs 70% LTV but Nat West will only lend 60%. Pinders valuation has been done and confirms an Open Market Value of £325k and a Freehold £250K
The client is an experienced businessman with two other businesses generating significant and seperate incomes, which Natwest are unwilling to take into account for their decision.
Client willing to pay investor rates to ensure a speedy conclusion with a second charge offered and repayment intended within 1 9-12 month period.
