Freedom 4 Intermediaries

Case Studies

From the sublime to the outlandish, look at what we got approved

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Asset Finance

One of our intermediaries emailed us details of a client who was looking to purchase a van and some equipment for his business.

The business had been trading for less than a year and the client had three recently satisfied CCJs on his credit file which meant he was finding it difficult to source a loan.

Within a few minutes, a member of the team here at Freedom For Intermediaries was able to pick up the phone to the client, complete a fact find and place the client with two lenders; an unsecured lender and one that specialises in providing asset finance solutions to SMEs.

 

Over the next few days the client collated the information the lenders required, he met them and within a week the two facilities paid out.

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BTL Second Charge

An intermediary approached us with a client that had a property portfolio with loan to values ranging between 50% - 80%.

All of the tenants were on Assured Shorthold Tenancy agreements but a couple of the properties were due to become vacant. The client wanted to renovate these particular properties to increase the rent for the next tenant.

He had approached his own bank who wouldn’t assist as they didn’t lend to the sector and they didn’t like the fact that a couple of the properties were also due to become vacant.

There was due to be a shortfall on the rental income for a period until after the properties were re-let.

Freedom For Intermediaries were able to source finance for the client, on a second charge basis, he was allowed to utilise his outside income as repayment whilst the properties were being renovated.

The work has now been done and the properties let on increased AST’s reflecting the increased values, therefore increasing his own income and the value of his overall portfolio.

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BTL Second Charge for Business Purposes

We were contacted by an intermediary with regard to a client who needed to inject funds into their business.

 

The client was looking for a substantial amount and wanted to borrow funds over a seven year period if possible.

 

The client had already approached their bank, been offered a smaller amount on an unsecured basis over a five year period.

 

The broker contacted Freedom For Intermediaries and we were able to secure a second charge mortgage on his own home fairly easily and the broker was paid for the introduction.

 

The client had three different lenders vying for his business, the existing mortgage that was already in place was unaffected, the loan secured over a seven year term and the client avoided paying high early redemption penalties.

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Third Charge Bridging Loan

We were approached by a client that had an urgent need for funds caused by a large project he was undertaking through his business. He owned a buy to let property that was also up for sale.

He had hoped the funds would come through in time but a sale had fallen through. Property had a first and second charge on it already so no scope to raise funds against it, or so he thought.

We were approached with a scenario that he needed the funds as the project was of great value to him, he had no idea how he was going to get the money.

We were able to look around the market and managed to provide him with a third charge bridging loan of the exact amount he needed. Not only was he delighted to get the money he was also delighted when he got the money well within the time he needed it.

He is now currently halfway through his project and has no worries about financing it.

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Unsecured Business Loan

A broker approached us with clients who were buying into an existing dental practice. They had the funds agreed through their bank subject to survey, the deal representing a great opportunity for them to move their business to the next level.

The deal was nearing completion when the survey came back lower than they had anticipated, the Bank reduced the amount they were willing to lend, meaning they had a shortfall of £90k.

The bank could not assist the clients any further and if they did not find £90,000 in the next 10 days they would have been denied the opportunity to buy into the practice.

Their adviser contacted us with the scenario and the tight timescales.

We managed to get them finance, on an unsecured basis, within 7 days of the first contact. The funds were in fact with the solicitor a day before the funds that their bank were advancing. The transaction completed in time with the client giving their adviser excellent feedback about the whole process and the overall finance package that was made available to them.

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Application for £150,000 to service current work and grow new business

Invoice discounting provided the necessary funding.

With the invoice discounting facility in place, the company is aiming to invest internally and grow turnover by £9 million. The group chairman of the company added “The new contracts mean we can invest in the future of the company – we are planning to employ 10 more staff and open a second factory over the next 12 months. Over the long term, we aim to expand into new sites across the UK as well.”

As the company has demonstrated, invoice discounting is a reliable source of funding that can benefit manufacturers financially in terms of growth and also in terms of cementing relationships with suppliers and clients, as the business is seen to be financially stable.

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Application for a loan for home improvements

We received an application for a loan for home improvements. Whilst the application was being processed the applicant worked with the land registry and his solicitor to split the title on his land. His future plans were to renovate his existing property and to sell it, his mortgage and secured loan were secured on this title.

The sale of his existing property would allow him to build a new house on the land with the new unencumbered title, enabling him to speed up the process to be mortgage free.

Freedom for Intermediaries is a trading style of Freedom Finance Limited registered in England and Wales. Company number 06297533. Freedom Finance Ltd is Authorised and Regulated by the Financial Conduct Authority. Registered office: Atlantic House, Atlas Business Park, Simonsway, Manchester, M22 5PR. VAT Registration Number: 156 0324 34 Copyright © 2010-2015 Freedom Finance Limited. All rights reserved. Reproduction in whole or in part without permission is prohibited. Calls may be recorded for training and monitoring purposes.