SPECIALIST INSURANCE AGENCY (HOLDINGS) LIMITED

REAL ESTATE ACTIVITIES

Funds raised

£255,840.00

Final AER

15.91%

Loan term

60 MONTHS

Deadline

2018-06-06

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£1,681.94 +0.50% £1,690.35 15.72%
£1,673.49 +0.50% £1,681.86 15.72%
£1,665.04 +0.50% £1,673.36 15.72%
£1,656.59 +0.50% £1,664.87 15.72%
£1,639.68 +0.50% £1,647.88 15.72%

About the Business

Company Name: SPECIALIST INSURANCE AGENCY (HOLDINGS) LIMITED Company Number: 05223015
Business Type: REAL ESTATE ACTIVITIES Years Trading: More than 10 years
Business Location: Southampton

About the Risk

Risk rating

C

Default rate

14.10%

Bad debt rate

5.04%

About the Security

Security Offered:

Personal Guarantee - PG from company director Susan Quick

Est. Equity: 300000.00

Personal Guarantee - PG from company director Tony Quick

Est. Equity: 300000.00

Property Charge 1 - 2nd priority legal charge over an investment property owned by the directors

Est. Equity: 160000.00

Property Charge 2 - 2nd priority legal charge over an investment property owned by the directors

Est. Equity: 160000.00

Risk Indicators Identified:

High Debt-to-Equity Ratio
This company has a higher than average level of company debt in relation to its equity
Low Liquidity
This business has a lower than average ratio of liquid assets to current liabilities

Important Files

Who are we?

Visit our Website

Specialist Insurance has raised money through rebuildingsociety.com previously. This new loan will be used to refinance the old loan. If you currently have Capital Outstanding on the existing loan you can transfer this to the new application, by making use of Transfer Bids.

Visit the existing loan here

SIA Holdings has built a property portfolio over the last 14 years, with the intention to build a long term property business, to pass to future generations of a family owned business.

The business has a strong balance sheet with assets in excess of £5 million to support the loan application, and are 100% owners of Specialist Insurance Agency Ltd, insurance broking business, which is valued over £1 million, and has provided long term profits to support the property business growth.

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Loan Offers

What is the loan for?

Because the business has always looked to retain assets, cash flow has always been a challenge, as property investments are cash hungry, meaning the business is asset rich and cash poor.

Rental income has continued to grow and the intention is to build the business to a rental income of approx. £1 million to allow the scale of the business to work. The loan will allow us to have strong short term cash flow, allow us to complete a number of renovation projects to existing properties, to maximise rental income.

Why consider investing?

Over our trading history the company have never missed a loan repayment, the short term borrowing has enabled cash flow to be strong, maintaining a disciplined repayment structure all the time increasing the balance sheet value of the business.

The family owners have invested over £1.5 million in the business and loan default is not an option as the company continues to move forward. The first generation owners have pension and investments meaning the intention is never to with draw capital rather to pass to the next generation.

Security

This loan is to be secured by way of a Personal Guarantee from each of the two company directors, and two property charges.

Personal Guarantees will be taken from the two company directors and shareholders, Mr Tony Quick and Mrs Susan Quick. They have a combined estimated net worth of £600,000 comprised of their ownership of their marital home - a domestic residence with an estimated value of £1.3 million and £735,000 estimated equity.

Two second priority legal charges will be taken over two investment properties owned by the business.

The first of these properties is a domestic residence with an estimated value of £300,000 and an outstanding mortgage in favour of The Mortgage Works with £133,734 outstanding, leaving roughly £160,000 of estimated equity to be covered by our second charge.

A second priority legal charge will also be taken over another residential property owned by the company. This property has an estimated value of £325,000 with a mortgage in favour of the Mortgage Works with £155,770 outstanding, leaving around £160,000 of estimated equity to be captured by our charge.

DateAmountCapitalInterestReceived
04/07/2018£6,209.33£2,817.28£3,392.05
04/08/2018£6,209.33£2,854.63£3,354.70
04/09/2018£6,209.33£2,892.48£3,316.85
04/10/2018£6,209.33£2,930.83£3,278.50
04/11/2018£6,209.33£2,969.69£3,239.64
04/12/2018£6,209.33£3,009.06£3,200.27
04/01/2019£6,209.33£3,048.96£3,160.37
04/02/2019£6,209.33£3,089.38£3,119.95
04/03/2019£6,209.33£3,130.34£3,078.99
04/04/2019£6,209.33£3,171.84£3,037.49
04/05/2019£6,209.33£3,213.90£2,995.43
04/06/2019£6,209.33£3,256.51£2,952.82
04/07/2019£6,209.33£3,299.69£2,909.64
04/08/2019£6,209.33£3,343.44£2,865.89Not Due
04/09/2019£6,209.33£3,387.76£2,821.57Not Due
04/10/2019£6,209.33£3,432.68£2,776.65Not Due
04/11/2019£6,209.33£3,478.19£2,731.14Not Due
04/12/2019£6,209.33£3,524.31£2,685.02Not Due
04/01/2020£6,209.33£3,571.04£2,638.29Not Due
04/02/2020£6,209.33£3,618.38£2,590.95Not Due
04/03/2020£6,209.33£3,666.36£2,542.97Not Due
04/04/2020£6,209.33£3,714.97£2,494.36Not Due
04/05/2020£6,209.33£3,764.22£2,445.11Not Due
04/06/2020£6,209.33£3,814.13£2,395.20Not Due
04/07/2020£6,209.33£3,864.70£2,344.63Not Due
04/08/2020£6,209.33£3,915.94£2,293.39Not Due
04/09/2020£6,209.33£3,967.86£2,241.47Not Due
04/10/2020£6,209.33£4,020.47£2,188.86Not Due
04/11/2020£6,209.33£4,073.77£2,135.56Not Due
04/12/2020£6,209.33£4,127.78£2,081.55Not Due
04/01/2021£6,209.33£4,182.51£2,026.82Not Due
04/02/2021£6,209.33£4,237.97£1,971.36Not Due
04/03/2021£6,209.33£4,294.15£1,915.18Not Due
04/04/2021£6,209.33£4,351.09£1,858.24Not Due
04/05/2021£6,209.33£4,408.78£1,800.55Not Due
04/06/2021£6,209.33£4,467.23£1,742.10Not Due
04/07/2021£6,209.33£4,526.46£1,682.87Not Due
04/08/2021£6,209.33£4,586.47£1,622.86Not Due
04/09/2021£6,209.33£4,647.28£1,562.05Not Due
04/10/2021£6,209.33£4,708.90£1,500.43Not Due
04/11/2021£6,209.33£4,771.33£1,438.00Not Due
04/12/2021£6,209.33£4,834.59£1,374.74Not Due
04/01/2022£6,209.33£4,898.69£1,310.64Not Due
04/02/2022£6,209.33£4,963.64£1,245.69Not Due
04/03/2022£6,209.33£5,029.45£1,179.88Not Due
04/04/2022£6,209.33£5,096.14£1,113.19Not Due
04/05/2022£6,209.33£5,163.70£1,045.63Not Due
04/06/2022£6,209.33£5,232.16£977.17Not Due
04/07/2022£6,209.33£5,301.54£907.79Not Due
04/08/2022£6,209.33£5,371.83£837.50Not Due
04/09/2022£6,209.33£5,443.05£766.28Not Due
04/10/2022£6,209.33£5,515.21£694.12Not Due
04/11/2022£6,209.33£5,588.34£620.99Not Due
04/12/2022£6,209.33£5,662.43£546.90Not Due
04/01/2023£6,209.33£5,737.51£471.82Not Due
04/02/2023£6,209.33£5,813.58£395.75Not Due
04/03/2023£6,209.33£5,890.66£318.67Not Due
04/04/2023£6,209.33£5,968.76£240.57Not Due
04/05/2023£6,209.33£6,047.89£161.44Not Due
04/06/2023£6,209.33£6,128.08£81.25Not Due
Total:£255,840.01£116,719.79