Background – Building trust through long-term collaboration
Karl Luker was introduced to Dan Gateshill at ASC Finance Business’ Hampshire & Dorset office, by his accountant in July 2017.
Having successfully assisted Karl on two previous occasions, Karl approached Dan to support him with finance in buying a house with a view to redeveloping the site into 2 houses to sell on. Having taken the time to fully understand the funding requirements for the project, along with the features that Karl required, we approached one of our trusted lenders and received indicative terms within 1 working day. This was subject to planning permission, and once the client had this, they had the formal offer, subject to security valuation within 7 working days.
Challenges – Balancing multiple finance needs efficiently
Karl was remortgaging his home to use as the deposit for the purchase of the property, as such we co-ordinated with his Mortgage Broker, Accountant and Solicitor to ensure all required documents were received by the involved parties, including liaising with the Surveyor to ensure the valuation report was received in a timely manner, leaving Karl with more time to run his business.
Solution – Tailored finance and close client support
We completed on the purchase in January 2021 with a £639,000 development finance facility. We met with Karl at the property to see how he was getting on with the redevelopment, and asked Karl on what he felt were the benefits of working with ASC Finance for Business.
What do you feel was the benefit of working with ASC? “I feel that ASC will endeavour to find the best deal on the market, tailored to my specific needs. “
What were you particularly impressed and or unimpressed with? ASC un-tied lots of minor issues created by other brokers over the years on my various mortgages. Dan and Lisa worked hard to both simplify my borrowing and to put new finance in place. I’m now in a much better position and looking for my next project.
Do you think it’s better to use a broker when applying for commercial finance and if so, why? I’d say so as they have a wide platform of lenders on the open market, and they may find you a better deal. If you go direct to lenders, then they may not give you the extra benefits that ASC may find.
How likely are you to recommend ASC? Very likely.
Is there anything that you feel we could do, or do better to improve our services? Nothing, it’s been a great 4/5 years with ASC, and I look forward to working with Dan and the team on future projects.
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Outcome – A successful project and lasting partnership
Dan Gateshill, Regional Director for ASC in Hampshire, Dorset and Isle of Wight commented “Karl is a long standing client of ASC and we have built a great relationship over the last five years. On first meeting with him, it was clear that Karl needed assistance in simplifying his affairs, so although complex to begin with, subsequent finance applications have been quicker to arrange as a result. It has been a pleasure to assist Karl with his various finance requirements and we look forward to helping to add further value to his property portfolio in the near future”.
Working with ASC Finance for business has enabled Karl to make the below transformation to the property
Contact Dan to see how we can help you to secure the right finance for your project whether you are near ASC Hampshire, ASC Dorset or ASC Isle of Wight. Dan can also be found on Facebook and Linked In.
