How we helped solicitors, Kesar & Co, take a major step forward in their business growth by arranging a commercial mortgage to allow the purchase of new premises for the fast growing team of staff and partners.

About Kesar & Co

Kesar & Co are solicitors based in Bromley, Kent. Founded by Mladen Kesar in 2010, the firm now employs 27 staff and offers a full range of legal services for businesses and individuals. The firm has a long record of success in general injury claims, immigration, criminal appeals and clinical negligence and, most recently, in protecting the victims of modern slavery and trafficking. The firm's ethos is to make things right for people who are vulnerable or disadvantaged and the partners have their own charity, Intervene Project to help those who cannot pay for their own representation.

The Need

Mladen Kesar had been looking for new trading premises for his practice for some time. An increasing case load and growing team meant he had rapidly outgrown his existing premises and the need to move was now becoming urgent. After a couple of false starts, which sent everybody back to the drawing board, he saw the potential in some town centre premises which had been empty and neglected over many years. A successful outcome would mean the restoration of a well known town centre building, income for the local economy and highly visible premises for the firm from which the practice could grow.
Financing the deal meant securing a commercial mortgage for 95% of the purchase price. Added to this, the long term lease needed extending and the contribution supporting by raising finance against another investment property.

What We Did

We arranged the bulk of the funding through Lloyds and the balance of the contribution through Together Money, secured against one of Mladen's buy-to-let investment properties.

The Experience

The deal wasn't without its challenges. Three valuations, extensive lease negotiations, land registry issues, a CHAPS payment going missing on completion day, challenging the lender on credit covenants, which were eventually removed, all made for a close working relationship over the course of three months. We made ourselves available 24/7 and much of the communication was done out of hours due to Mladen having to run the busy practice and being in court. Daily catch-ups at 9pm were the order of the day.
We pride ourselves at Productivity Finance on not being a 9-5, Monday-Friday brokerage. When there is a deal to be done, we work as and when is needed. The same can be said of the lenders, solicitor and agent who all went beyond the call of duty in getting the deal over the line.
Mladen said “We were delighted to use Productivity Finance to help us find the best Commercial Mortgage for our new office.  Tamara helped us enormously and we are very grateful for her patience and perseverance.  She has been very responsive, proactive and resourceful throughout the transaction. The communication has been easy and she has made herself available even whilst on leave and late in the evening to deal with queries and offer advice. We highly recommend her”.

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