CASE STUDY

Property Developer

Business Funding Process

Client Background

A well-established London property developer faced a critical situation with her buy-to-let (BTL) portfolio in South London. Her existing deal was nearing expiry, putting a lot of pressure on her asset positions. Unfortunately, the initial renewal offer from her previous lender fell through due to a down valuation. This pushed the loan-to-value (LTV) ratio beyond the lender’s acceptable limits, jeopardising the entire portfolio and risking default.

After approaching several brokers, who all promised quick solutions and competitive rates, none were able to deliver a concrete solution within the tight timeframe. Time was running out, and the client desperately needed a reliable partner to navigate this situation.

Meet Jack Rowe
Jack Rowe
Commercial Finance Manager

We were able to secure refinancing for our client’s BTL portfolio in under three weeks, despite a challenging situation with a down valuation and a tight timeframe. This not only averted a potential default but also opened doors for future growth discussions.

Deal Specs

Industry:
Property Developer

Product:
BTL Portfolio Mortage

Facility:
£1.2m Refinance

How We Assisted

The client approached us, and recognising the urgency of the situation, we prioritised speed and leveraged our strong relationships with our diverse panel of lenders. We conducted a thorough review of the client’s portfolio and held in-depth discussions to fully understand the challenges. We identified a trusted lender willing to accommodate the specific LTV requirements of the client’s portfolio and provided a safety net for the properties to be managed under a long-term investment option. By facilitating a retype of the valuation, we were able to secure terms off the current reported values giving enough comfort for the new lender to agree in not having a revaluation done saving further time for the refinance. These steps empowered us to negotiate with the new lender, who ultimately agreed to match the previous interest rate and terms offered by the first lender, ensuring a smooth transition for the client throughout the refinancing process. Our team’s efficient work streamlined the entire experience, moving the application from initial contact to the legal phase in a single week.

After approaching several brokers, who all promised quick solutions and competitive rates, none were able to deliver a concrete solution within the tight timeframe. Time was running out, and the client desperately needed a reliable partner to navigate this situation.

The Result

Through our collaborative efforts with the client and the lender, a swift and successful refinance was achieved in under three weeks, effectively averting a potential default and ensuring the continued operation of the client’s portfolio. This swift resolution delivered more than just financial stability and peace of mind, it opened doors for future growth discussions, with the possibility of exploring additional financing options for upcoming property investments within the wider portfolio. 

This case demonstrates the value of our expertise in navigating complex BTL refinancing situations and portfolio management. Our commitment to speed, personalised solutions, and fostering strong lender relationships enables us to deliver exceptional outcomes for our clients.

Ferrock
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