Our client a pizza delivery business that had only been trading for 18 months had the opportunity to purchase the freehold of their property they called us to discuss.
New business looking at freehold
Although a relatively new business, the owner had already been rated No.1 by an online takeaway search engine, and had won a number of awards for the quality of food and service.
With a small amount of actual trading time, the client was happy to provide us with additional security in the form of a house that he already owned (unencumbered), which was tenanted.
The accounts showed that the business was profitable and growing, but due to the small amount of trading time we requested a business valuation to cement the deal further. When credit searches were carried out they returned very little information, meaning some additional due diligence was required.
The valuation report came back with good comments and evidenced strong demand, and the client was more than happy to meet in person and discuss his circumstances in greater detail.
This was paramount to the case and once a discussion had taken place and we had a deeper understanding of the client and his requirements, we were more than happy to move forward to formal offer.
UK Property Finance is always keen to help professional business owners make that next step.
We regularly meet with clients to help understand their needs and get to know their business, and believe that this personal, common sense approach to lending adds tremendous value.