Large Loan Case Study
Yiannis Constantinou, Specialist Mortgage Consultant at Brightstar, recently assisted a client in securing a £1,900,000 refinance facility against three Buy-to-Let Multi-Unit Freehold Blocks (MUFBs). The funding was arranged to pay off a £1.6M facility previously held with Barclays, which had been secured across four properties. The refinance not only replaced the existing debt but also enabled the client to raise an additional £300,000 in capital, allowing for further expansion of their BTL portfolio.
The properties involved were a 10-unit MUFB, a 6-unit MUFB, and a 5-unit MUFB – each located in close proximity to commercial buildings, which introduced additional underwriting and valuation complexities. The transaction was completed through the client’s limited company, adding another layer of legal structuring and coordination. Despite these challenges, the deal was secured at 65% Gross LTV with a competitive rate of 6.14%. From initial application to formal offer, the process was completed within just six weeks.
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