Hampshire Trust Bank (HTB) has completed a £20m loan for the refinancing of a major property portfolio of 32 student HMOs in the Northeast.
The client, who runs a significant property business, needed to remortgage the 32 HMOs, and raise over £4m in capital for future property investments, as well as undertaking light redecoration and refurbishment works.
The transaction was introduced by Fiona Smith, senior debt advisor at Finance 55, who contacted HTB because they knew the bank is an expert in dealing with complex HMO portfolios, with an appetite to lend up to £25m to experienced landlords and investors.
HTB swiftly obtained local information on the market in the Northeast and agreed appetite at an executive level early on in the process to ensure all elements were in place for approval.
Fiona commented: “I was thrilled to get this facility secured for the client — structuring and sourcing the right debt solution whilst providing outstanding service is our aim.
“HTB pride themselves on providing exceptional service to their brokers, and this is a testament to that commitment.
“They adopted a collaborative approach, and we look forward to working with them again.”
Chris Daly, managing director for specialist mortgages at HTB (pictured above), added: “This deal clearly demonstrates our genuine appetite for providing large loan solutions to property investor clients.
“Collaboration was key to the success of this deal.
“With its size, and scope, there were numerous moving parts to ensure it worked from a legal point of view as well as lending perspective.
“It was a fantastic result for all those involved.”
