With 25 years’ experience as a chef, specialising in Nepalese cuisine, our client had always wanted to run his own restaurant. Starting in Nepal at the age of 16, he had moved to India to further his experience, where he had managed a Nepalese restaurant and 14 chefs.
Having moved to the UK he worked as a head chef in an Indian restaurant, but still wanted to fulfil his dream of running his own business. With our help he secured a commercial mortgage on a suitable property, where the income from the upstairs flat paid the mortgage for the restaurant downstairs.
An accountancy firm were looking to move to a new build as part of their expansion strategy. Once they had located suitable premises, we were able to assist them to obtain a commercial mortgage to enable them to make the purchase.
To facilitate their acquisition, the client found a tenant to lease part of the building that was superfluous to their requirements. The rental income that this generated was sufficient to cover the mortgage payments. The client was then left in the strong position of owning the fully rapid asset at the end of the mortgage term, which they then intend to use as an asset for their pension fund.
Having run a successful pet shop for a number of years from a rented property, our client was keen to achieve longer term security by purchasing the premises for himself.
Rather than his continuing to pay rent, we assisted the client to obtain a commercial mortgage to purchase the premises. This gave him the security on his trading premises that he needed in order to plan for the longer term and added a valuable asset to his property portfolio.
Last updated: 22 November 2023 | © KIS Bridging Loans 2024
