LOSS MAKING SITUATIONS
Loss making holiday business. The bank concerned was close to appointing receivers and they had 7 days to repay. One of the UK specialists a had meeting on the Monday morning and by Friday UK had advanced nearly £4 million of our own funds with full clean report on title having been received from local solicitors. This was an excellent achievement all round with a large number of staff working together from both our office and the local solicitor’s offices to ensure completion.
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Loss making plant/vegetable growing business. Again the bank was looking to appoint receivers. We were able to secure long term funding of over £1 million in the secondary market despite losses and a huge number of CCJ’s against the company, within 28 days.
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| A privately run hotel, whose expansion plans went hugely over budget and hence severe pressure at the bank. Pending bankruptcy petitions against the owners from various creditors. We were able to repay all creditors including the bank in full with our own funds within 10 days. Total £1.25 million. Newly built extension is now fully operational and the hotel is showing strong profitable trading for the first time in over 12 months. |
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Loss making care home. Resident numbers had reduced to 1 with break-even at 5, due to marital break up and other family issues. Bank was looking to foreclose, although political issues with press etc. in view of the nature of the business. We were able to secure over £2 million of long term funding in the secondary market within 28 days, to repay the bank in full and inject some desperately needed working capital whilst a strategic plan was put in place to rapidly increase pupil numbers. Business now has increased numbers, and is trading very profitably. |
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PROPERTY DEVELOPMENT CASES
Client was able to purchase property at a discount which had planning approved for conversion of 8 flats. We were able to bridge 100% of the purchase price against achieved valuations, with an exit route coming in the form of buy to lets once each flat is converted. Over half a million pounds.
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| Client had a portfolio of 3 houses, with a previous vendor still having an interest in one. The second property had borrowings secured with the current lender. UK helped the client to pay off the existing lender and settle the interest of the previous vendor. This allowed him to renovate the remaining two properties and move into a long term mortgage facility. |
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Client was able to purchase previous public house at significant discount as a sitting tenant. Planning approval has been achieved for 14 quality flats and we were able to fund both purchase and build costs on a bridging basis. Significant valuation margin has enabled deal to proceed. Pre sales have already been achieved along with switch to buy to lets of remainder to see us repaid quickly. Total borrowing circa £1.2 million. |
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| Client wanted to purchase 3 new plots which he had negotiated good discounts on. His main bankers were not happy to lend against purchase price not true value and therefore we have bridged the purchase of all 3 with the bank looking to remortgage once purchase is completed. Total circa £1 million. |
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Having run up significant debts and defaults on credit cards, the client turned to UK for help. UK were able to restructure their existing finances and raise enough money to develop their detached property, which resulted in a 4 times increase in value.
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| Client who had overspent on a build and his bankers have become nervous of his position. We have been able to secure long term funding on the project based on low LTV, which has freed up sufficient monies to get the project completed. Total circa £1.25 million. |
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DIVERSIFIED BUSINESS IN WALES...
10 years ago UK Management Services arranged finance for the clients to purchase a neighbouring leisure park – 100% funding was arranged. This time the clients found themselves frustrated with their new bank failing to deliver, in that they thought they had a facility for a new project, only to find that once they had spent the first £100,000, the facility hadn’t been sanctioned by the Bank’s head office. UK was called in and within 1 week [after a detailed business plan had been prepared] an alternative £2 million facility was found at 1% above bank base rate. |
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| CLIENT WITH OTHER PROPERTY TO SELL AT A LATER DATE...
Wished to purchase farm in Devon. Against fierce competition for the business from High Street banks, UK Management Services were able to produce the best offer – £575,000 with 85% loan to value at below 2% above bank base rate. |
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| CLIENTS WITH FARM AND LEISURE BUSINESS IN SOMERSET …
Troubled with excess short term finance, costs were too much for the business to sustain. There was no support from existing bankers. Long term funding found at 2% above LIBOR – new facility consolidated existing loans saving £1,700 per month and funded conversion of holiday let unit to bring in a further £12,000 per annum. Clients have now asked UK Management Services to support their ongoing business with budgets and monthly monitoring of performance for the next 12 months to help them move their business forward. |
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LEASEHOLD FARMING BUSINESS...
A client whose bank was being extremely unhelpful and had started repossession proceedings over £550 of arrears, turned to UK for assistance. UK had the repossession postponed and remortgaged the client with additional funds to help their leasehold farming business. |
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