Finding alternative ways to assist the client
We were approached by a client looking to purchase a commercial property in London.
The client had a weak credit profile showing various defaults and a CCJ which would have resulted in them being unable to exit our facility to a mainstream lender. On further investigation, the client had a family member willing to offer an unencumbered commercial property in Wales, subdivided into 2 units consisting of a car garage and a furniture retail store as security to assist our client with his business.
We were able to take a 3rd party charge and guarantee, which allowed the client to purchase the property.