Jointly Owned Hotel
The Case
Funds were required by a client to meet a divorce settlement. A jointly owned hotel
had lost £61,000 in the most recent trading year and the client had incurred a large
CCJ. The hotel asset was valued at £1.3m. Under the terms of a court order, the
deal was under strict timepresures. The introducer passed the lead directly to TBMC
and had no ongoing involvment with the case.
The Solution
A self certification commercial mortgage was arranged for £780,000 at 4.5% above Bank Base Rate. The mortgage was completed within two weeks of receiving the formal offer,
inside the court deadline. All negotiations were undertaken via TBMC and the introducer
was updated regularly.
Introducer Commission
The introducer received £7,800 for passing the opportunity to TBMC.