Arc & Co and GB Bank have completed three BTL transactions over the past three months, totally £19.5m.
The first of these was a £13.5m facility arranged to refinance a prime residential property in Primrose Hill that was valued at £20m.
The client in this situation had been seeking to refinance an existing £10m private bank debt while releasing additional equity. The property was held as a BTL investment by a foreign UHNW individual.
Arc & Co structured the loan amount at 60% LTV over a 60-month term.
The second deal was a £3.5m facility for a newly completed 19-apartment development in Kent, with all the units already leased to the local council on a fixed annual premium basis.
The loan was structured at 70% LTV over a five-year term.
The third transaction involved a £2.5m facility for seven apartments, occupying one full floor in a new-build Wembley development. The LTV for this deal was not disclosed, but the term was for three years.
This transaction faced multiple challenges, including an overseas borrower, a property valuation down by more than 10%, reduced expected rental income, and a tight deadline from the developer.
"Each of these deals presented significant hurdles, and yet completing £19.5m across the three transactions in as many months demonstrates Arc & Co.'s ability to structure and execute complex residential finance where conventional lending parameters simply don't apply,” said Arc & Co head of international Nikita Nigai (pictured above).
“GB Bank's flexibility as a relatively new entrant has been instrumental, and these completions reflect our ability to deliver solutions for clients that high street lenders and traditional private banks cannot serve."
