Your business tenant is not paying his rent – how can you get your money? What is the problem? Our landlord clients tell us that many of their commercial tenants are not currently paying the rents due under their leases – in most cases, their...
At Nowell Meller, our specialist refinance team find our clients may be refinancing commercial property or portfolios, for a number of reasons. This may not just relate to finance to repay other loans, but to obtain improved rates or refinance to release funds for other projects.
Whatever the reason, we usually find our clients need those funds to be released within a set period of time. We work extremely hard to meet those timescales or obtain extensions of time if those timescales are not realistic for the type of project.
Working to deadlines
Many commercial lenders appoint their own Solicitors or in house teams and this can add to the timescales involved, so our dedicated refinance team at Nowell Meller looks to ensure that not only are our clients keep informed throughout, but their business relationship manager or broker also knows what is happening so that everyone can work together to achieve the desired timescales.
We find that many clients have worked for months on end to put refinance in place and we may be the last cog in the wheel, so communication is key – and that is where our team excels.
Meeting Lender Requirements
Many clients will not appreciate the complexities involved in meeting lender requirements, but the dedicated team at Nowell Meller, looks at the detail from the outset. We liaise with our client’s relationship manager or broker early doors, we put in hand all the necessary searches that may be required, we look at special conditions which may add to the time factor – just to give every opportunity of satisfying the lender or their Solicitors on points raised.
Many clients refinance in order to release capital for future projects – which may only be available for a limited period of time. The refinance team at Nowell Meller understand these pressures and work with our clients and their professional teams to do everything possible to deal with lender queries to release funds in time.