The borrower acquired the North West property portfolio at 30% below market value through a bridging loan.
The investor sought a refinancing solution when the bridge loan payment was due while also looking for a way to release extra funds for future investments.
HTB’s business development manager (BDM) for the North of England, Wes Baker, along with Stephen Mettler, senior underwriter at HTB, worked with The UK Adviser to find a solution for the borrower. Following a swift full valuation, the case moved from offer to funding in five days.
Legals were paid before the case had been formally offered to ensure the borrower could meet the impending bridge payment deadline.
Working closely with legal representatives from Glovers and the client’s from BBS Law HTB, ensured a quick completion process. As a result, the client sold two and raised a seven-figure sum for future property investments.
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Andrea Glasgow (pictured), sales director of specialist mortgages at HTB, said: “This case had all the hallmarks of a complex transaction – tight deadlines and multiple moving parts – but that’s where HTB excels. We worked closely with the broker to craft a tailored solution, meeting the client’s needs not just in terms of speed, but by unlocking the flexibility needed to expand their portfolio in a competitive market.”
