Case Studies

Owner Occupier

Case Study 1:

Cousins & Sharp Limited, Commercial House, Algores Way, Wisbech, Cambs, PE13 2TQ

Cousins & Sharp is the premier local service centre for LDV vans and DAF Trucks and have been trading in Wisbech since 1st August 1972. By July 2002 the Company had far outgrown their rented premises.

The directors identified a suitable plot of land near to the existing premises, which the Company purchased from the local council with mortgage assistance from the Society. During the construction period, the Society advanced 90% of the value of the property subject to a maximum of 100% of the cost. This was controlled by way of regular re-inspections by the Society's valuer and evidence of the cost of the construction. The loan to value ratio at the end of the construction period was 80%.

Cousins & Sharp Limited now occupy the highest quality test and servicing centre in the area, capable of handling a much greater range of vehicles than previously. As a direct result of the new premises, the Company has been able to secure registration as a MOT test centre for the largest range of vehicle types in the region.

The Society's lending decision was based on the historic trading performance of the company as shown in its last three years' audited accounts.

Case Study 2:

John Aylett - J Blewer & Son Limited, High Elms, London Road, West Kingsdown, Kent, TN15 6BT

John Aylett followed his father into the timber merchant industry and worked for a number of other companies before taking over J Blewer & Son in 1990 when John Blewer retired due to ill heath. The Company has now developed a niche market in quality products specialising in softwoods sourced from Scandinavia and the Baltic States. Trading on the back of a long established family name it has now developed a first class service to back up the high quality products being offered.

In January 2003 the Society advanced 80% loan to value to assist the Company to purchase new premises. Later in the year we advanced further monies on a stage release basis in order to assist with the further development of the site prior to the Company taking occupation. The new premises now have an industrial unit approximately three times the size of the facility at the company's existing premises and much improved vehicular access onto the main road.