Atom bank, the UK’s highest ranked bank on Trustpilot, has provided a £3.2 million facility to allow a landlord to refinance an industrial unit incorporating a distillery in Worcestershire.
Broker-led approach to refinancing
The client approached their broker, Michelle Mackenzie-Cooper and Shahjahan Alam at Mortgage and Finance Arena, to discuss their refinancing needs, while also contacting their own bank to see if the funding could be obtained directly.
Background to the property and existing finance
The industrial unit was purchased during the pandemic but due to delays, building only commenced in early 2024 and the current lender agreed to a development loan on the basis of pre-let. The unit is currently leased to a distillery producing beer, wine, and a range of spirits. However, the existing finance deal was nearing maturity.
Why Atom bank was selected
After reviewing the whole market, the broker determined that Atom bank was the best option. Key to the deal was Atom bank’s ability to lend at market value, while other lenders would only lend based on vacant possession. This flexibility allowed the borrower to raise a higher sum, and achieve their refinancing objectives.
A long-standing broker relationship
Atom bank and Mortgage and Finance Arena have enjoyed a lengthy relationship, with the broker being one of the first to be added to Atom’s panel when the bank entered the commercial lending space.
Speed and delivery under pressure
The broker praised Atom bank for its speed in handling the case, noting that both the Agreement in Principle and approval of the application were delivered extremely quickly, while pointing out that improvements to Atom bank’s broker portal have made it faster and more intuitive.
That speed is all the more notable given the complications involved with the case, including the expiry of the valuation and delays from local councils in signing off aspects of the deal.
Lender Perspective
This was not a straightforward case, with potential issues around the tenant restructuring and the valuation expiring. Yet the team pulled together to deliver the funding needed and set the client up for success in the future. The willingness to get into the details of an individual case, and really get to know the business involved, is a key differentiator for us and a big reason why so many brokers are bringing their commercial mortgage cases to Atom.
Spencer Ford, Regional Business Development Manager at Atom bank
Broker Perspective
I’ve worked with Atom, and Spencer in particular, previously and that personal relationship is crucial. I know Spencer will live up to his word, and that I’ll be able to talk the deal through with an underwriter. That’s a real contrast from high street banks, where you will get a relationship manager who often doesn\’t understand the deal and is quick to say no.
There were complications with this case, such as needing to extend the valuation and the tenants restructuring their business, which may have derailed it with other lenders. However, because Atom allowed us to discuss the details directly with the underwriter, we could talk through those issues clearly and deliver a great outcome to the client.
Shahjahan Alam, Commercial Finance Manager at Mortgage and Finance Arena
About Atom bank
Atom bank is a specialist digital lender offering flexible, relationship-led solutions for commercial finance brokers and their clients. With a focus on speed, transparency and tailored pricing, we combine cutting-edge tech with expert BDM support to deliver smooth, responsive lending experiences. Whether it’s bespoke commercial mortgages or streamlined applications, we’re here to help brokers get deals over the line.
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