LHV Bank has completed a specialist £14m BTL funding package for a family office.
This funding has been used to refinance multiple large-scale residential properties across Manchester and West London.
The first phase of this transaction involved refinancing four apartment blocks, comprising 72 apartments, within a single complex in Manchester.
After this, LHV provided nine additional loans to refinance a portfolio of six-bed HMO properties in West London which the borrower had already acquired and converted.
The initial loan was covered in an eight-week period, despite a counteroffer from the borrower’s existing lender.
This transaction was introduced by Alex Haffner, managing director at Fusion Funding.
“This transaction is a testament to LHV Bank’s ability to structure bespoke lending solutions for sophisticated property investors,” said Conor McDermott, director of SME lending at LHV Bank (pictured above).
“By taking a case-by-case approach, we provided tailored funding that met the borrower’s needs, from refinancing large MUFBs to structuring loans for HMO properties.”
Alex added: “LHV Bank demonstrated exceptional agility and expertise in structuring these loans. It was a pleasure collaborating again with them on this transaction, and we value our close relationship going forward.”
