Urgent Refinance of Maturing Commercial Mortgage in Leicester
£1,580,000 · 10 months · 0.88% pm. A commercial property investor's existing mortgage on a Leicester retail parade matured with 90 days' notice.
The Client
Commercial Bridging client
The Challenge
A commercial property investor's existing mortgage on a Leicester retail parade matured with 90 days' notice. His chosen refinance lender encountered an internal delay and could not complete in time, leaving the investor facing default penalties.
Our Solution
Doulton provided a £1.58m bridge to refinance the maturing facility, preventing default. The bridge gave the chosen long-term lender time to complete their process properly.
The Outcome
Maturing mortgage refinanced on time. Default penalties avoided. Long-term commercial mortgage placed at month nine, redeeming the Doulton bridge. Key highlights: Maturing mortgage default prevented; £1.58m in under 3 weeks; Long-term refinance completed during bridge term.
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