Butterfield Mortgages Limited (BML) has provided a BTL mortgage of over £20m in advanced funds to refinance and support renovations of a prime central London property portfolio.
The 64% LTV loan was structured for a client looking to purchase a property through a trust structure, which holds a variety of property assets, both directly and through multi-jurisdictional offshore companies.
To achieve acceptable market returns, the assets required renovations — some had short leases.
BML advanced funds to refinance the existing lender and provided additional capital for future use, enabling the client to extend the leases and complete the necessary improvements.
The mortgage terms included capitalised interest fixed for the duration of the loan period to accommodate the borrower’s limited income.
Alpa Bhakta, CEO at Butterfield Mortgages Limited (pictured above), said: “Complex property portfolios, such as those held in trusts with multi-jurisdictional assets, often present unique financing challenges due to their structure and income profile.
“This is particularly true in the prime central London market, where high-value properties require specialist expertise to assess and structure tailored financial solutions.
“By offering bespoke lending solutions, we were able to help this client refinance and fund important improvements, and we were delighted to strengthen our relationship with the broker who brought the case to us.”
