Rely has completed a £2.4m remortgage against a fully refurbished MUFB in Northumberland.
The transaction involved a 55-unit residential block held on a single freehold, with a market value of £3.2m. The client, a long-standing borrower across OSB Group brands, required a solution to refinance the asset following refurbishment.
The case was introduced by Pure Funding Solutions, with broker Adam Lane working closely with Rely’s BDM, Nathan Chand, to explore the lender’s appetite for larger MUFB cases early in the process.
Initial discussions focused on criteria, valuation approach and operational requirements, alongside how Rely’s new lending platform could support the submission and progression of a case of this size.
Following submission, the application progressed with minimal additional requirements, with regular communication maintained between broker and lender while awaiting valuation. The streamlined process helped reduce the level of manual input needed from the broker and provided clarity on progress throughout the transaction.
“This was a strong example of how early conversations between broker and lender can help shape the right outcome for the client,” said Jon Hall, CCO at Rely (pictured above).
“Larger MUFBs can bring added complexity, so clarity around criteria, valuation and process is important from the outset.
Working closely with the broker, we were able to keep the case moving and provide the support needed to complete the remortgage.”
Adam added: “From the outset, it was clear Rely had the appetite to support a deal of this size.
“The new lending platform did a lot of the heavy lifting from our side, which made the process feel straightforward, and the level of communication throughout meant we always knew where things stood, which made a real difference in delivering for our client.”
