Commercial Mortgages Broker the property finance specialist is pleased to confirm that it has recently completed a property portfolio refinance transaction for one of our clients. The transaction involved the refinance of 18 properties, with a gross value of £3.4m. The net loan was just above 73% LTV.
The loan was the culmination of a complicated transaction due to an incorporation process and also various refinances which enabled the cash flow from the portfolio to improve, with some underperforming assets being sold, therefore improving the debt service cover ratio.
The loan was rejected by a number of challenge banks and non-high street lenders, and ultimately was transacted with Castle Trust.
Matt Lenzie founder of CMB said: “we are extremely please to have concluded this transaction with Castle Trust, the transaction was complicated, with ownership being transferred from an LLP into a Ltd company, and the volume of the properties involved meant that the standard due diligence process was extremely lengthy. This transaction was taken down to the wire, but we concluded late on Friday afternoon.”
“Portfolio mortgages for borrowers are extremely complex, as they involve a number of different factors, including conveyancing multiple properties, business plans, cash flow forecasts and valuations of all properties involved.”
Commercial Mortgages Broker specialise in complex funding solutions for our clients and we have a track record of closing transactions which may have been rejected elsewhere. For enquiries regarding property portfolio refinancing, please get in touch with our team today.