Recognise Bank has completed a £5m professional buy-to-let (BTL) refinance deal on over 100 properties in the Manchester area.
The funding was for a family-owned investment company, and the loan was a five-year fixed rate priced at 3.49 per cent with a loan to value (LTV) of 50 per cent.
The client was introduced to the lender by Nick Bennett, managing director of real estate financing consultancy Navitaur Limited.
Jackie Skelt, Recognise Bank’s regional director of London and Midlands, said that this was one of its first professional BTL deals, as well as its largest to date, and it proved its personal approach was “really powerful” as it was able to complete the deal quickly.
She added: “We know that many advisors struggle getting large BTL portfolios financed with some other lenders, because they don’t have the expertise or one to one relationships needed to complete such large deals. We are already seeing a lot of interest in the new product.”
The lender entered the professional BTL market last week after a trial with a small number of advisers. Its range is aimed at those with four properties or more and has a five-year fixed rate and variable rate option.
At the time, Recognise Bank said that there were over £20m in deals completed or still in progress.
Rates for the range start from 3.49 per cent, with a minimum loan size is £100,000 and maximum loan size of £5m. The maximum LTV is 75 per cent and it is available for new acquisitions and refinancing existing portfolios.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.