Landlord’s astonishing £20m portfolio refinance deal revealed
Jas Bhogal says the bank has loaned a professional landlord £20 million to overhaul the financing of their portfolio of 36 properties.
Shawbrook Bank has helped a professional landlord to refinance a large portfolio of 36 properties in a £20 million deal, it has been announced.
The landlord, based in the Greater London area, wanted to overhaul their portfolio with a £19 million loan, plus £1 million capital to fund future investments and renovate existing properties.
The specialist lender provided the full loan amount on a 10-year term, fixed for five years, at 57% LTV after the landlord was introduced to Shawbrook by Business Finance 1st Limited.
Streamline
Shawbrook says gaining a deeper understanding of the client’s business and future plans helped to streamline the process, with credit approval received before the valuation was instructed and mitigating the risk of further obstacles to a swift pay-out.
A 36-property portfolio is not simple.”
Jas Bhogal, Senior Regional Development Manager at Shawbrook (main picture), says: “Applying our relationship banking approach to this case was crucial as we could take the opportunity to understand the exact needs of the client, their future business plans and this helped us formulate the best way to support their funding needs.
“A 36-property portfolio is not simple, but I’m delighted that we could take the time to provide a personal and practical funding solution for this professional investor.”
This was a large portfolio refinance.”
Laurence Foux, Director at Business Finance 1st Limited, says: “In a world of technological enhancements, it’s nice to see Shawbrook tailoring their approach to cases that require a more hands-on approach.
“This was a large portfolio refinance and it was great to see the team meeting the client, taking the time to understand their ambitions for the portfolio and providing funding to support them.”
