Case Studies
Our expert team have over 50 years of experience in bridging finance and the specialist distribution industry
Residential Second-Charge Mortgage
Key facts:
Property type: Residential
Property value: £450k
Loan: £130K
LTV: 28%
As the client was relatively old, this meant they were only entitled to a seven-year term, which would massively affect their affordability. Often this is the case - older people are at a higher risk due to lower income and irregular salary. Some lenders are very particular with situations like this, whereby they have a maximum age for people they’ll lend do.
There were also issues with the exit route for the client, where the lender was very strict and there were a variety of requirements that the client needed to meet. This was resolved by downsizing to another property.
Fayez (Mortgage Broker at Rainstone Money): “This case demonstrated the importance of using a specialist mortgage broker. By knowing the lenders that are able to work with a client like this, a tailored solution is always more than possible!”
£570,000 loan for a residential purchase
Key facts:
Property type: Residential
Property value: £1.1m
Loan: £570k
LTV: 53%
This was an extremely complex residential purchase. The client went to four different brokers before us, with none of them being able to help. The client was left with a loss of all hope in purchasing their dream home in the U.K. Some of the challenges faced consisted of the client being a non-UK national living in the US, with no UK payslips or credit report, with a challenging location being Battersea – an over-saturated development. As a team, we managed to find a tailored solution for the client, managing to relocate the client to the UK using the client’s US income. We applied our extensive and comprehensive knowledge of how to structure a deal, while also using the right bank to support the client’s situation.
Rahul Modasia (BDM): “This deal demonstrated how having a good broker who has access to the whole of the market and can deal with complex deals is very important, and having good relationships with your BDM and lenders goes a very long way”.
Refinance for 4 properties
This deal consisted of refinancing 4 properties, being a mixture of both semi-commercial and Buy to Let. This compromised deals for a whole family, with big loan amounts. While there were tight deadlines involved, the team managed to perform exceptionally well, while maintaining strong relationships with both the client and lender.
Foyaz (director): “As a team, nurturing a long-standing and trustful relationship with the client really aided the performance of this deal. The team was able to dedicate and commit themselves exceptionally to get this deal done”.
Key facts:
Client: 5 family members
Property type: Sem-commercial and BTL
Property value: £6,900,100
Loan: £3,835,100
LTV: 75%
Complex BTL Mortgage
Key facts:
Client: Portfolio Landlord
Property type: Semi Commercial Purchase
Property value: £1,495,000
Loan: £900,000
LTV: 60%
Interest rate: 6.99%
The client was looking to buy a semi-commercial property; they were buying it at a slight discount. The lender pushed this transaction to be completed quickly. We decided to still proceed with the normal commercial mortgage, managing to complete this case in only 10 weeks - exceptionally fast considering the leases and agreements that were in place were all very historic. This is where our exceptional coordination with the solicitor came into play. Despite missing documents, complex issues with the leases - as they were over 20 years old – this was able to be executed in a timely manner, with great communication and relationships across our team as well as lenders and solicitors.
£4,550,500 Development Exit Of 35 Flats In Sittingbourne, Kent
Key facts:
Client: Experience development based in UK
Property type: Development of 35 flats
Property value: £5,900,000
Loan: £4,550,000
LTV: 68%
Rainstone Money arranged a loan of £4,550,000 to allow a client to exit from a development loan and onto a term loan facility on 35 flats in Sittingbourne. The property value was £5,900,000. While there were issues with warranty sign offs and offer expiring, the team managed to stick together, and with the help and support from the lender, managed to extend the offer and get the deal over the line for the client, despite very tight deadlines. The client was really happy with the team at Rainstone Money, who never gave up on the deal and made sure both solicitors were up to date on every stage.
Rahul Modasia (BDM) – “This was a deal that tested me and my skills on keeping it all together with top-notch assistance from my team. Excellent support was demonstrated from the client’s solicitors, the lender and underwriters, in order to get the deal done and over the line”. It just goes to show that the relationship between lender and BDM is a very important one.
£7.4m complex development loan for Entralon’s £14m GDV industrial scheme in Ashford, Kent
Key facts:
Client: Portuguese and Turkish client
Property type: 5 large warehouse developments
Property value: £14,000,000
Loan: £7,400,000
LTV: 54%
In this case, we completed a 7.4m ground-up development loan for Entralon, to fund the development of five industrial/warehouse units totaling 48,079 sqft in Orbital Park, Ashford, Kent. With a gross development value (GDV) in excess of £10m, the loan will continue the revival of the local economy, targeting the in-demand and currently under-supplied industrial sector. We managed to overcome the difficulties of one of the most complex development deals we’ve been involved in. This deal highlighted the importance of building relationships not only with the client but with the contractors too.