Karis Capital has secured a £4.7m refinancing package for a residential BTL client, covering 28 properties.
The facility comes at a 5.2% fixed rate over five years which, according to Karis, saves the client around £30,000 per year and utilises £1.3m for further investment.
The deal was arranged by Christian Artimadis, associate at Karis Capital (pictured above).
“Our new client had been on a base rate tracker for years and as the rate sharply rose their facility became too expensive and swift action was needed,” commented Christian.
“Upon reviewing their portfolio and overall requirements we were able to work quickly to provide a more stable and attractive finance facility, which also raised additional equity for further investment, whilst still reducing their monthly mortgage payments.”
