Blackfinch Property has completed a £4.3m BTL refinancing loan for the completion of a collection of seven homes in Archway, London.
The 24-month deal at 70% LTV represents the firm’s fifth BTL loan completed for the same longstanding client.
The facility will be used to refinance the seven properties from a previous lender and repay other investments relating to property development, enabling the provision of much-needed houses in London.
All seven properties have been completed with an EPC rating of B or above.
The development is a terrace of two- and three-storey mews houses, each with a private patio and first-floor Juliette balcony.
The borrower will refinance onto longer-term debt as part of the exit strategy.
Nicola Mayes, investment manager at Blackfinch, commented: “We are delighted to have completed another deal with this highly experienced client and brokerage firm.
“The homes are prime examples of the sort of assets we want to fund.
“The properties are in a high-demand central London borough, where there will be no shortage of prospective tenants.”
