TANNORELLA MORTGAGES LTD
Tannorella Mortgages provides a complete solution for mortgage and protection. Year-on-year profit growth of 230% and year-on-year revenue growth of 27%. They are multi-award winning with a 5-star rating online. Featured on BBC Radio. Due to high demand, they are seeking funds for expansion and working capital.
Leading mortgage and protection solutions.
We collaborate closely with clients to discover the best solution for their specific needs. Client satisfaction is of the utmost importance to us, and our dedication to offering a leading service with exceptional customer service has resulted in repeat business and a positive online reputation. We’ve now developed a 5-star rating on Google, Yelp, and Facebook, which has resulted in an increase in demand.
I am proud to say we’ve won numerous awards. Awarded the Top 3 Mortgage Broker in Cardiff for 2022, 2021 and 2020. Awarded Best Mortgage by the British Property Awards 2019-2020. We were also recently interviewed on BBC New Wales, BBC Radio Wales and BBC Radio Hereford & Worcestershire regarding the recent mini-budget and impact on mortgage products. To meet demands we are seeking funds for expansion and working capital.
The director is providing a personal guarantee, this means that if the business fails, the director becomes personally liable for the loan. The director is a homeowner, however, this does not ensure there are sufficient assets should the loan need to be recovered. The tangible net worth of the company was calculated to be £3k as at July 2022. There have been no CCJs against the business or director. The bank statements demonstrate reasonable affordability, although the overdraft limit was breached by £800 in September 2022. The accounts remain well in credit.
The business advised that they are not affected by higher input costs. As the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases. The directors do not expect to draw money from the business all capital is vital for the growth of the business. The business advised that they are less likely to be impacted by inflationary pressures as there will an increased demand and more clients want to raise funds for home improvements as opposed to moving.
Where will the funds go?
"Leading mortgage and protection solutions."