Alliance & General Finance Property Finance

CASE STUDIES:

A local company was looking at purchasing a unit to expand their business. We arranged a mortgage for them using a prime lender and arranged an 85% loan to value at 1.34% over base.

A Norfolk based company was looking to purchase the property that it was renting. A mortgage was arranged and they had a cash deposit but still found themselves £25,000 short to complete the purchase. Although the customer was inheriting some money later that year, there was a danger of losing the property if the deal was not completed quickly.

After a call to us, we managed to arrange a short term bridging loan partly secured by way of an endowment policy but with no charge on property resulting in a successful purchase for the customer.

Norfolk based hoteliers were looking to sell their property but then thought about converting it into flats.

After contacting us we arranged for them to have a drawdown facility of £100,000 which would cover their cost of living as well as the work to be carried out on the property.

They paid a very competitive rate of 1.5% over base rate and will only need to start paying back the facility when the work is complete.

Home

We offer the following types of property finance: Commercial Mortgages / Re-Mortgages, Bridging Finance, Development Finance & Leasehold Finance.

Mortgages: We can offer commercial mortgages from £25,000 up to £5 Million. We deal with most of the major financial institutions who can offer very competitive rates, and some smaller finance companies who will take a more liberal view but will charge a higher rate.
	Bridging Finance: Generally speaking, bridging finance is a short term (3-12 month) finance facility secured on property. It is ideal for: Acquisitions, Auction purchases, Bridging, Capital Raising, Evictions, Refurbishment, Re-financing and repossessions. We have companies who will take first, second and even third charges over one or two properties for security.
Development Finance Development Finance is similar to bridging finance in that it is a short term loan. It is more usual to take place over 6-12 months, however longer repayment periods are acceptable. If you have a property that you are looking to develop (for example turn a large hotel into flats) then development finance can be an ideal way. You borrow the money as and when you need it - what is called staggered drawdown (this means that you don't pay any more interest than you need to). Rather than making a monthly commitment, you also don't pay until the end of the development (rolled up interest) - either refinancing the redeveloped property or selling it.
Leasehold Finance How many times have you heard "if only your property were freehold..." Well, we can arrange finance if you own (or are buying) the leasehold to a property. We can arrange finance of up to 50% of the purchase price of public houses and up to 65% for Indian Restaurants and fish & chip shops. Loans are repayable over half the term of the unexpired lease - this means if you have 7 years remaining on the lease, we can arrange finance for up to 3 years.