Hampshire Trust Bank has successfully refinanced a 43-property portfolio, releasing funds for future investments.
- The refinance, totalling £6.4 million, enabled the borrower to meet a critical repayment deadline.
- Acquired at 30% below market value, the portfolio was initially financed through a bridging loan.
- HTB’s swift action transitioned the case from offer to funding in just five days.
- The collaboration with The UK Adviser and legal experts ensured a seamless refinancing process.
Hampshire Trust Bank has taken a significant step in strengthening its market position by completing a £6.4 million refinance of a 43-property portfolio. This strategic move not only enabled the borrower to meet an impending deadline but also unlocked additional liquidity for future acquisitions. Earlier in the year, the borrower purchased the North West property portfolio at a substantial discount of 30% below market value using a bridging loan. Faced with an urgent bridge loan payment, the borrower sought a refinancing solution to secure a timely financial exit and facilitate further property investments.
Wes Baker, the business development manager at HTB for Northern England, alongside senior underwriter Stephen Mettler, directed a comprehensive redbook valuation as part of their rapid response to move the case from offer to funding within a mere five days. This was a testament to HTB’s ability to operate efficiently under tight deadlines while managing the various intricacies involved in such complex financial transactions.
In coordinating efforts with The UK Adviser, HTB’s dedicated team, including senior completions officer Melanie Franks and legal representatives from Glovers and BBS Law, effectively transitioned the refinance. The result was not only the retention of the 43 properties within the client’s portfolio but also the sale of two properties, which collectively raised a seven-figure sum earmarked for future investments. This performance underscores HTB’s capability to adapt swiftly to client needs, offering bespoke solutions in a competitive property market.
Andrea Glasgow, HTB’s sales director of specialist mortgages, highlighted the intricate nature of this transaction, noting the tight deadlines and numerous variables involved. She remarked on HTB’s proficiency in navigating these complexities by aligning with client requirements not just in terms of speed, but also by granting the flexibility necessary for expanding the client’s property portfolio. Her comments underscore the bank’s commitment to personalised client service whilst maintaining operational precision.
Communication proved paramount in this endeavour, as Wes Baker reiterated. He emphasised HTB’s focus on ensuring seamless connectivity between brokers, underwriters, and legal teams throughout the process to prevent any detail from slipping through the cracks. This cohesive approach was instrumental in completing the refinance transaction efficiently without sacrificing quality, allowing HTB to deliver on its promise to clients in critical situations.
The successful refinance by Hampshire Trust Bank demonstrates its capability to handle complex financial transactions with agility and precision.
