SPECIALIST INSURANCE AGENCY (HOLDINGS) LTD

Other

Funds Requested

£100,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2014-11-24

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About the Business

Company Name: SPECIALIST INSURANCE AGENCY (HOLDINGS) LTD Company Number: 05223015
Business Type: Other Years Trading: more than 10 years
Business Location: HAMPSHIRE

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - Done (PG from director and majority shareholder)

Est. Equity: 0.00

Personal Guarantee - Done (PG from director and majority shareholder)

Est. Equity: 0.00

Personal Guarantee - Done (PG from director and majority shareholder)

Est. Equity: 0.00

Personal Guarantee - Done (PG from director and majority shareholder)

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Specialist Insurance Holdings Limited was Established in 2004, to own and operate our property holdings and the share capital of Specialist Insurance Agency Ltd, which is a separate trading company and not part of this application.

Over the past 20 years we have built up an extensive property portfolio consisting of 62 properties, with a rental income approaching £40k per month.

We have built an expert understanding of the local property market in Southampton and the majority of our holdings are within a 5 mile radius of our office.

We have an active property management programme, are continually looking to add value to our portfolio.The business has a long term commitment, with second generation family now working within, and our five year plan is to increase are holdings to around 100 properties to help scale the business.

Read more

Loan Offers

What is the loan for?

The loan will be used for the purchase of a freehold consisting of a block of four properties, three of which are owned on a leasehold bases by the company already. The intention is to look to purchase the remaining property in the block when it becomes available.

The purchase will allow us to grant leasehold extensions on our three properties and open up development opportunities on the site in the future.

The loan will also be used for further expansion capital.

Why consider investing?

Company has long term track record of repaying all borrowing and holds in excess of £3 million equity within property holdings.

Security

The loan is to be secured by a 2nd charge on an investment propertyowned by the Directos as well as 2 director guarantees. The property has an estimate value of £375k and approximately £211,875 in equity

The Directors have a combined est. net worth of £514k, primarily from equity in 2 properties with a combined estimate value £1.57m and estimate equity of £818k.

DateAmountCapitalInterestReceived
24/12/2014£2,395.82£1,119.16£1,276.66
24/01/2015£2,395.82£1,133.44£1,262.38
24/02/2015£2,395.82£1,147.91£1,247.91
24/03/2015£2,395.82£1,162.57£1,233.25
24/04/2015£2,395.82£1,177.41£1,218.41
24/05/2015£2,395.82£1,192.44£1,203.38
24/06/2015£2,395.82£1,207.67£1,188.15
24/07/2015£2,395.82£1,223.08£1,172.74
24/08/2015£2,395.82£1,238.70£1,157.12
24/09/2015£2,395.82£1,254.51£1,141.31
24/10/2015£2,395.82£1,270.53£1,125.29
24/11/2015£2,395.82£1,286.75£1,109.07
24/12/2015£2,395.82£1,303.18£1,092.64
24/01/2016£2,395.82£1,319.81£1,076.01
24/02/2016£2,395.82£1,336.66£1,059.16
24/03/2016£2,395.82£1,353.73£1,042.09
24/04/2016£2,395.82£1,371.01£1,024.81
24/05/2016£2,395.82£1,388.52£1,007.30
24/06/2016£2,395.82£1,406.24£989.58
24/07/2016£2,395.82£1,424.19£971.63
24/08/2016£2,395.82£1,442.38£953.44
28/09/2016£2,395.82£1,460.79£935.03
28/10/2016£2,395.82£1,479.44£916.38
28/11/2016£2,395.82£1,498.33£897.49
28/12/2016£2,395.82£1,517.46£878.36
28/01/2017£2,395.82£1,536.83£858.99
28/02/2017£2,395.82£1,556.45£839.37
28/03/2017£2,395.82£1,576.32£819.50
28/04/2017£2,395.82£1,596.45£799.37
28/05/2017£2,395.82£1,616.83£778.99
28/06/2017£2,395.82£1,637.47£758.35
28/07/2017£2,395.82£1,658.37£737.45
28/08/2017£2,395.82£1,679.54£716.28
28/09/2017£2,395.82£1,700.99£694.83
28/10/2017£2,395.82£1,722.70£673.12
28/11/2017£2,395.82£1,744.70£651.12
28/12/2017£2,395.82£1,766.97£628.85
28/01/2018£2,395.82£1,789.53£606.29
28/02/2018£2,395.82£1,812.37£583.45
28/03/2018£2,395.82£1,835.51£560.31
28/04/2018£2,395.82£1,858.95£536.87
28/05/2018£2,395.82£1,882.68£513.14
28/06/2018£38,781.05£38,273.34£507.71
28/07/2018£0.00£0.00£0.00
28/08/2018£0.00£0.00£0.00
28/09/2018£0.00£0.00£0.00
28/10/2018£0.00£0.00£0.00
28/11/2018£0.00£0.00£0.00
28/12/2018£0.00£0.00£0.00
28/01/2019£0.00£0.00£0.00
28/02/2019£0.00£0.00£0.00
28/03/2019£0.00£0.00£0.00
28/04/2019£0.00£0.00£0.00
28/05/2019£0.00£0.00£0.00
28/06/2019£0.00£0.00£0.00
28/07/2019£0.00£0.00£0.00
28/08/2019£0.00£0.00£0.00
28/09/2019£0.00£0.00£0.00
28/10/2019£0.00£0.00£0.00
28/11/2019£0.00£0.00£0.00
Total:£99,961.90£39,443.59