Atom bank has announced that it has supported an experienced property investor with a £1.75 million commercial mortgage, helping them expand their portfolio.
Jeremy Robinson, director of Aquilae Capital Advisory, introduced the case, with the loan secured against a light industrial unit on the London/Essex border at 60% LTV. The deal has released capital to support the acquisition of further light industrial units, and exchange is due imminently on the first of these purchases.
Recent enhancements
Atom bank has made a series of enhancements to its commercial proposition in recent months. These include:
- A rate discount for high debt service cover cases
- A reduced minimum loan size of £100,000
- A boosted procurement fee for a limited period
The bank's procurement fee now stands at 1.75% for all commercial lending applications submitted from 8th June until 30th September. The overall 2.00% arrangement fee charged to borrowers remains unchanged, with Atom's retained portion reducing instead.
A new and improved discount for large loans has also been launched alongside these changes. Loans between £1m and £3m now carry a 0.40% rate reduction, while those above £3m up to £10m benefit from a 0.25% reduction.
"Experienced investors are looking again at expanding their portfolios, but in order to do so they need support from lenders who truly understand this market," said Neil Findlay, regional business development manager at Atom bank.
"Atom bank has a great reputation for our expertise within specific sectors of the commercial space, including industrial properties, and our ability to deliver bespoke funding based on the individual client's circumstances."
"We are already engaged with the client on a further transaction and look forward to working with them again to support their continued growth of their property portfolio and wider investment ambitions," added Robinson.
"Atom bank was the perfect partner for this case, taking the time to understand what the client was looking to achieve and deliver a really competitive fixed rate and a structure that worked brilliantly for the client."
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