This client was seeking an investment loan to finance the purchase of agricultural land. This was a complicated case as there was no planning permission for the land meaning not many lenders would have the appetite to finance this and would typically offer a high-rate bridging loan. However, Sirius Property Finance was able to source a reasonable rate term loan by evidencing that the borrower’s operating companies were able to service the interest in the event that the borrowers could not secure a tenant for the land.
Further complexities by way of an overage secured via a charge on the land, resulted in lengthy negotiations to subordinate the charge. Sirius managed all parties efficiently, meaning that the desired outcome was delivered in a timely manner.