Approved Finance Group lands £13.2 Million Corporate Buy-to-Let deal, unlocking huge savings for top property investors.
Milton Keynes-based asset finance brokerage, Approved Business Finance (ABF), has secured a £13.2 million Corporate Buy-to-Let facility for two property investment companies. Through innovative financial structuring and expert collaboration, the deal resulted in a substantial £500k saving for the borrowers.
Brokered with Yorkshire Building Society (YBS), the mortgage deal is the first of its kind for the financial service, having launched its new owner-occupied SME offering in May.
By leveraging the expertise of Approved Tax, the transaction was strategically structured to separate the residential elements from the semi-commercial portfolio. Allowing the borrower to secure lower residential loan rates than the higher semi-commercial pricing, the borrowers will be able to save approximately £500k of interest over a five-year period.
The deal was further facilitated by the strong collaboration between Approved Tax and EMW Law, which ensured a timely transaction, completed within just seven weeks of the solicitors being instructed. EMW represented both parties, making it the largest deal YBS has ever done with dual legal representation.
By splitting the commercial elements, Approved Business Finance was also able to keep assets unencumbered, further reducing costs and providing greater financial flexibility for the property investment firms.
A spokesperson for one of the firms commented:
“The collaboration between Approved Tax and EMW on this deal with YBS was swift and seamless, resulting in an excellent deal for us. The final outcome has enabled us to refinance our existing buildings and fund the building of ten new homes as part of a new housing development, and allow us to offer at least 30 new employment opportunities.”
Laurie Baugh, managing director of Approved Property Finance, said:
“This transaction is a testament to ABF’s innovative solutions and client-focused approach.
We’re proud to be the first to secure the new owner-occupied mortgage, surpassing competition including long-standing, national firms, by offering the best combination of products to suit the borrower’s specific requirements, as well as the best value. I'd also like to express our thanks to the team at YBS Commercial for the proficient way they handled the transaction from start to finish.
“The end result is that clients can proceed with their ambitious development plans - which will serve the local area once complete - as well as ensuring that they have liquidity in the business for their ongoing operations.”
For more information about Approved Business Finance and their tailored financing solutions, visit https://www.approvedbusinessfinance.co.uk
About Approved Finance Group
The Approved Finance Group (AFG) is a specialist finance company that covers business finance, property finance, motor finance and R&D and tax relief.
Launched in May 2019, Approved Business Finance (ABF) is a young and forward-thinking financial services firm which continues to grow rapidly. Starting with the original founders, the firm now employs over 30 people at its Central Milton Keynes office.
ABF understands the daily challenges facing those who dare to dream big and since its inception, the group has facilitated over £500 million in funding for SMEs across the UK. With expertise in Business Finance, Property Finance, Motor Finance, and Tax Innovation, ABF offers a comprehensive range of financial solutions.
Approved’s customer base not only covers multiple industry sectors, such as Construction, Manufacturing, Engineering, Logistics, Retail and Hospitality but also geographically covers the whole of the United Kingdom.
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