Hampshire Trust Bank’s specialist mortgage division has provided a £12.1m loan facility, at 65% LTV for an eight-property portfolio in Islington, London.
This was arranged via brokers Aria Finance for a client seeking to refinance and raise £4.7m in capital to refurbish existing MUFBs and make future property investments.
HTB increased its maximum loan amount to £25m from £15m in August 2022, highlighting its appetite to work for larger loans sizes.
HTB says it is seeking to support the needs of larger and more complex property investors, as well as BTL landlords. This portfolio consisted of a mixture of semi-commercial and MUFB properties, including flats above a retail unit, and involved several inter-company loans. The properties needed transferring from one limited company to another upon completion.
Aria Finance sales and commercial director Joe Aston says: “Working in partnership with senior figures within the bank we were able to mitigate various perceived risks and use a ‘common sense’ approach in taking this transaction through to completion.”
HTB managing director Chris Daly adds: “Our continued appetite to support larger loans underscores our commitment to support an increasingly broad range of clients in the residential and mixed-use property investment sector.”
