Completing a £74,000 freehold purchase before the valuation expired

Overview

Client
Owner-operator of convenience store

Requirement
Funding to purchase the freehold of the premises

Loan Amount
£74,000

Product
Commercial term loan

Term
5-year fixed

Completion Time
Completed on the final valid day of the valuation

 

The Situation

A client approached us seeking funding to purchase the freehold of a convenience store he runs with his wife in Norwich.

Owning the premises would provide long-term stability for the family business and allow them to move from tenant to owner-occupier.

The funding itself was straightforward. However, the timing of the transaction introduced additional pressure.

The lender’s valuation had a strict six-month validity period. If the purchase did not complete before the expiry date, the client would need to commission a new commercial valuation, creating additional cost and delay.

 

The Challenge

During the transaction, several personal circumstances on the client side meant responses were not always immediate.

At the same time, multiple parties needed to remain aligned, including:

• The lender’s legal team
• The client’s solicitor
• The lender’s underwriting team

As the valuation expiry date approached, the risk became clear.

If completion slipped beyond the deadline, the client would face the cost of a new valuation and potentially revised lending terms.

Maintaining momentum through the final stages became critical.

 

Our Approach

To keep the transaction on track, we remained actively involved throughout the process.

We worked closely with both sets of solicitors and maintained regular communication with the lender’s underwriting and legal teams.

Clear communication with the client was also essential, particularly around the time sensitivity of the valuation expiry.

By coordinating conversations, resolving outstanding queries quickly and maintaining steady progress across all parties, we ensured there were no unnecessary pauses in the process.

 

The Outcome

The £74,000 commercial loan completed successfully on the final valid day of the valuation period.

By meeting the deadline, the client avoided the cost and delay of commissioning a new commercial valuation and preserved the agreed 5-year fixed rate.

Most importantly, the purchase allowed the client and his wife to secure ownership of the premises they operate from, strengthening the long-term position of their business.

Takeaway

Transactions are not always delayed because funding is unavailable.

Often, the greatest risk lies in timing.

By maintaining momentum and keeping all parties aligned, we ensured this transaction completed before the valuation deadline, protecting both the client from additional costs and preserving the agreed funding terms.