Commercial Expert Ltd completes £1.1m refinance deal
Following the completion of a high-profile bridging loan for an industry-leading property company, and making the shortlist for the North East Business Awards, the team at Commercial Expert Ltd have continued their run of success by completing another large case – this time raising £1.1m to refinance a portfolio of land and property.
The client sought expertise due to their case being all the more challenging due to the security issues raised by the land and property involved, including a well-known hotel, being located on an island.
Commercial Expert Ltd’s Tracey Barnes managed the case. She is passionate about excellent customer service and this proved to be key here, with Tracey working tirelessly to ensure completion. Tracey says:
“It is always tricky when there are so many different parts to a deal. Keeping everyone in the loop and on track for a completion date is paramount and, as with most deals, there were a lot of different parties to liaise with; lender, solicitors, surveyor and, most importantly, our client. It’s a great feeling when it all falls into place and we have a happy client. This is what Commercial Expert Ltd do best”
Commercial Expert Ltd’s relationship with specialist lender Together was also a factor in the success of the deal, which has resulted in saving the client a significant amount of interest.
For further information on Commercial Expert Ltd or refinancing, please call the team on 01325 359800.
Commercial Expert Ltd shortlisted in prestigious awards
Commercial Expert Ltd has been named as one of three finalists in the Let’s Grow category (Durham, Sunderland & South Tyneside shortlist) in the North East Business Awards.
The North East Business Awards are the biggest in the region, shining a light on companies large and small doing fantastic things right here in the North East. They have been held for over 15 years, in association with the North East England Chamber of Commerce.
The Let’s Grow category is designed to recognise a company that has demonstrated rapid growth, an increase in market share and headcount, and a solid business plan.
Mike Coates, MD of Commercial Expert Ltd, says “Our shortlisting is fantastic news, as competition is tough for these awards. Our key differentiator is an internally employed team, so I’m delighted that their strong service ethic – a driving force in our growth – has been recognised in this way. Commercial Expert has consistently grown since its inception but with significant achievements this past year, and an award win would be the icing on the cake. Whoever does win however will be a worthy winner, and our involvement alone is motivation enough for our ambitious plans for the year ahead.”
Sub-regional winners will be announced on 14th March at the North East Business Awards dinner at Ramside Hall.
Good luck from Commercial Expert Ltd to all finalists.
£1.6m bridging loan completed for well-known property company
We have kicked off the new year with the completion of one of our largest cases to date – a £1.6m bridging loan for a London based property company.
A quick bridge was required to buy a Kensington property out of receivership, for a very wealthy international investor who required speed of service and flexible funding.
This case is particularly promising for Commercial Expert’s year ahead, having only expanded from our North East base into Leeds in early 2018, as it was our Leeds-based team member who introduced the case. James Gwynne, Appointed Representative, says:
“Assisting this client in the urgent refinance of one of their properties, approval was gained within 4 working hours of instruction and, despite many complications, we were in a position to draw funds less than 3 weeks later – and were heartily congratulated for doing so.”
In addition the case was managed through to completion by the newest recruit at Commercial Expert who worked closely with all involved parties, which has proven motivational for the whole team, showing our strength in recruitment and further evidencing that such large deals are well within Commercial Expert’s realm of expertise and experience.
The loan has been provided at a length of 6 months, with a 1.5% per month interest rate. For further information on Commercial Expert or bridging finance, please call the team on 01325 359800.
Expanded expertise here at Commercial Expert
We’ve seen unprecedented growth since the company was formed in 2008 (and particularly in the last 2 years). 10 years on, we’re adding to the team once again as greater demand for our specialist broker services has led to new appointments to ensure we continue to deliver the personalised service that clients have come to expect.
The first appointment sees Abigail Taylor join us at our head office in Aycliffe Business Park. Abigail brings almost 20 years of banking experience to the new Business Administrator role, with particular expertise in mortgages and secured lending. Her understanding of finance applications and processing will be a great asset to our increasing client base.
“I’m delighted to join the team,” says Abigail, “the work is so interesting and varied – no two days are the same. I’m looking forward to expanding my knowledge and contributing to the continued success of Commercial Expert.”
The second exciting appointment is currently being finalised and will see a further team member added by the end of the year. The new year will see fruition of our growth plans, with added Appointed Representatives around the UK, and a particular focus on expanding north after harnessing opportunities in Yorkshire with an Appointed Representative brought into the team at the start of 2018.
These changes to the team have meant that Daniel Brown has been promoted to Senior Business Manager after being employed by our Managing Director, Mike Coates, 14 years ago.
Mike says: “Dan has been an integral part of what we’ve built up at Commercial Expert and loves what he does, so it’s fantastic to be able to appoint him to a senior role as we look to the months and years ahead for the company and expect our workload to continue to rise. Dan joined us at administrator level, unqualified, and quickly gained the qualifications which have seen him complete hundreds of buy to let and commercial mortgages over the years. His story and client service ethic is a strong example to both new and longstanding members of our team, and vital to Commercial Expert’s impact going forward.”
We now have a team of 12 and are fast becoming the most recognised commercial broker in the North of England. The team delivers a range of services including business loans, property investment finance, development finance, bridging and rescue finance – find out more on these here.