Devon Commercial Mortgage Case Studies
Representative Devon commercial mortgages we've placed recently, product type, lender, pricing and the reason the file landed where it did.
Exeter
Exeter Quay Professional Services Floor
Mid-tier law firm purchasing their 8,400 sq ft floor near Exeter Quay
£2.6M facility at 65% LTV
- Funded by Lloyds Commercial Banking, 7.4% pa
- 20-year term on capital-and-interest
- Released the firm from a rising rent review and locked in cost certainty
Plymouth
Plymouth Sutton Harbour Retail Investment
Two retail units at Sutton Harbour beneath a new mixed-use building, both let to national covenants
£1.85M facility at 70% LTV
- Funded by Shawbrook, 8.0% pa, 15-year term
- Rental cover (ICR) at 165% on stressed pay rate
- Drew down 6 working weeks from packaging to completion
Torquay
Torquay Shop with Flats Above
Harbourside parade unit, ground-floor convenience store with three flats above
£690K facility at 72% LTV
- Funded by InterBay Commercial, 7.9% pa
- Blended residential and commercial valuation
- Borrower used existing rental track record to support the file
Exeter
Marsh Barton Light-Industrial Owner-Occupier
Specialist precision-engineering firm buying their 14,000 sq ft unit on Marsh Barton trading estate
£1.4M facility at 70% LTV
- Funded by NatWest Commercial Banking, 7.2% pa
- 20-year term, capital-and-interest
- DSCR comfortably above 1.5x on three-year trading accounts
Barnstaple
Barnstaple Independent Restaurant
Established independent restaurant operator buying the freehold of their town-centre premises
£525K facility at 65% LTV
- Funded by Cynergy Bank, 8.4% pa, 15-year term
- Loan supported by adjusted EBITDA and goodwill on a going-concern basis
- Released the operator from an above-market lease
Newton Abbot
Newton Abbot Buy-to-Let Portfolio Refinance
Four-property mixed portfolio (two HMOs, one shop-with-flat, one standard BTL), consolidating across two legacy lenders
£1.95M facility at 73% LTV
- Funded by LendInvest, 8.0% pa, 5-year fix
- Single facility replacing four separate loans
- Released c.£180K of equity for the next acquisition
Case studies are representative examples. Names and identifying detail are anonymised at the borrower's request. Lender attributions reflect deals placed within the past 24 months.
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