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The Client’s Situation
A property investor approached Advocate Finance seeking to remortgage their two semi-commercial properties. For large, complex transactions, focusing on more than just the interest rate is crucial, every detail matters to reduce monthly commitments. Their main goal was to secure a more competitive rate without facing the high legal fees often associated with semi-commercial cases; with the loan size being over £2,000,000 the legal fees were a big consideration as part of the loan.
The Challenge
Semi-commercial mortgages can involve substantial legal costs because both the residential and commercial aspects of the property must be covered. Many lenders insist on dual representation or charge additional fees for sole representation, which can quickly add up. In this case, the client was facing over £7,500 in projected legal expenses, significantly eating into the overall benefit of refinancing.
Our Solution
Our team identified a lender that was comfortable with the client’s financial background and the property type, while also permitting the use of title insurance. This approach removed the need for duplicate legal teams and cut the client’s legal bill dramatically.
What is title insurance?
The Result
By working with Advocate Finance, the client successfully refinanced their semi-commercial property and avoided more than £7,500 in unnecessary legal costs. This ensured that the savings from the new mortgage rate were maximised, giving the client a stronger overall return on investment.
How We Can Help You
If you’re considering refinancing or purchasing a semi-commercial property, the right structure can make all the difference to your costs and long-term returns. At Advocate Finance, we specialise in finding lenders and solutions tailored to investors’ needs, whether that’s reducing legal costs, speeding up completion, or structuring finance for future growth.
Learn more about semi-commercial mortgages here
