Residential Development – Total Loan £961k
The Situation: A property developer in Yorkshire was under pressure from a high street bank to
redeem a commercial loan he had taken out in order to develop over 40 residential units. After the
property market adjusted, our client was left with a number of properties within the development
company and a substantial seven figure sum outstanding.
The Solution: Commercial Expert Ltd worked with the client and the high street bank and created a
solution which involved negotiating a substantial ‘Debt Forgiveness’ with the bank. We arranged the
transfer of ownership of the properties from the client’s limited company into his own personal name.
Using the equity in the properties as a deposit and working with a quick bridging product meant that
the client was able to settle his bank debt and reduce his overall borrowing.