Finance Loan Refinance UK -
Huddersfield, Wakefield, Leeds, West Yorkshire

Almondbury Finance UK specialises in the refinance of existing arrangements. Most of our UK clients come to us with a raft of existing finance arrangements. These finances have usually been acquired over a period of time and it is not unusual for them all to be from one or possibly two principal lenders. We find that a review of these existing arrangements can often prove beneficial. Over time the finance arrangement in place may have become inappropriate and in some cases inadequate. It may well be more in the interests of the business to take a fresh approach and refinance. The refinancing arrangement can come in a series of ways and will require a thorough review of existing arrangements and objectives.

In conducting the review of existing arrangements and objectives we always need to take account of the full picture. We need fairly accurate details of all major assets. Land and buildings head this list in most cases. We will need a good idea of value on a 90 day forced sale basis. Plant and Machinery are the next topic of interest. In this case we will need details of all leasing arrangements, together with original costs, ages/time on clocks, and an idea of value. The business may also hold an element of goodwill which is perceived to be of value. It is always useful to consider this element, although very difficult to arrange financing against. Finally the business may hold key trading information or intellectual property. Although very difficult to value these elements are often the substance offered for major refinancing security when ‘Venture Capital’ is sought.

Once the review of existing arrangements has been conducted it is possible to move forward to the consideration of the business’s plans and financing needs. In looking at forward planning we normally take a view of short term issues in the first instance.

Often when we are approached by our clients there will be what is perceived as a pressing need for a short-term ‘fix’. More often than not this will be on account of a threat to the business as opposed to an opportunity. The threat will usually have come about on account of the conduct of a customer where the behaviour has become delinquent. This has the obvious effect of plunging our client’s cash flow in to the red. Following from this there becomes a greater reliance on the overdraft and the bank will assume a yet more controlling position over the business. One solution which can usually be applied in these circumstances is the take up of a factoring arrangement. The factoring arrangement can normally be ‘factored’ in with trade insurances to guard against bad debtors in the future. However, there is no finer way of protecting the business in this regard than being careful about whom we accept as customers.

Quite frequently we are also approached by companies facing an opportunity that they wish to ‘gear-up’ for. Capital intensive businesses such as property development are possibly the best example of this type of demand for our services. In refinancing for a major opportunity we are ideally placed. We can often achieve a result where conventional funders have refused assistance. Our independence helps us to achieve these results, together with our creativity. The usual scenario is that a developer has proposals to move in to a larger scale of operation. Conventional funding approaches have failed for them and they have no way of proceeding. In these cases we have specialist lenders who will go up to 100% funding of the scheme proposed.