UK based property company
Afaad Limited is a UK based property company with the objective of providing their customers with excellent property investment and development opportunities, with exceptional customer service.
They have in-house specialists to provide advice and guidance in architecture, conveyance and property law, this enables them to deal with all aspects of property purchases, sales and development.
Their services include:
Director, Ibrahim Egbejobi approached their Finance Broker, Positive Commercial Finance, as he had the opportunity to purchase office space that he wished to convert into residential flats.
Mr Egbejobi was presented with the opportunity to purchase the property for £183,000. The property was being utilised as office space and Mr Egbejobi required funding for both the property purchase and the finance required to convert the property to a residential standard. Just Cashflow was approached to fund 100% of the purchase price together with an additional £30,000 to cover the associated costs of the refurbishment. Just Cashflow was able to assist by securing a 1st charge against the purchase property and additional security for the refurbishment against another property within Mr Egbejobi’s property portfolio. Following the completion of work, which took approximately 3 months after completion of purchase, the property was valued at £330K with a monthly rental value of about £2000 per month.
Mr Egbejobi returned directly to Just Cashflow for further funding when another opportunity arose. He agreed a purchase price of £132,00 on a property but required 100% of the purchase price together with an additional £45,000 to refurbish the property. The property had been valued significantly higher; a total loan of £183,305 was provided by Just Cashflow for the purchase and refurbishment, secured by a charge against the purchase property and additional security from another property in Mr Egbejobi’s property portfolio.
The funds were provided as one loan on completion of the purchase, allowing Mr Egbejobi the ability to purchase the property and commence with the refurbishment with no delay. The end result for Mr Egbejobi was a property valued at £225.00 providing a margin of £41,695 on the completed property and of course Positive Commercial Finance still received their introducer commission.
Mr Egbejobi explained to us that he had initially contacted Positive Commercial Finance as a business opportunity had arisen and he required funding to not only assist with the purchase of the a property but also to refurbish the property from office space to residential accommodation.
On discussions with Just Cashflow it was concluded that Portfolio Builder was the perfect solution to Mr Egbejobi’s challenge.
Following the successful referral from his Broker, Positive Commercial Finance to Just Cashfow, Mr Egbejobi decided to contact Just Cashflow directly. He went on to explain that this was due to the ease and speed of working with the Just Cashflow team.
When asked if he would use Just Cashflow again, Mr Egbejobi commented, “Certainly yes, this is because the Just Cashflow team, right from the customer service to the processing team, they are all superb, always listen and ready to help.” He went on to say “If I can mention names: Wayne Martin (Senior Account Manager) and Helen Buls (Senior Risk Analyst) are very efficient, prompt with communication either by phone call or e-mail and always willing to help. Kudos to everyone.”
Where a client owns at least one commercial property, including buy-to-lets, then we provide access flexible funding solutions in one of two ways:
Just Cashflow is a business lender rather than a property lender, considering how the business is being managed and who is managing it. This provides potential access to loans at 100% LTV’s, and sometimes more, if security is taken over real assets.Who have we funded?
Are you eligible? See below.
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