Hampshire Trust Bank completes £6.9m remortgage for property developer

By Bridging Loan Directory 6th September 2024

Hampshire Trust Bank (HTB) has completed a complex £6.9 million remortgage for an experienced property developer managing a diverse portfolio of 65 properties across the Midlands, consisting of both flats and houses.

By leveraging the value of the portfolio and utilising a portfolio indemnity, HTB enabled the client to not only refinance but also unlock equity to facilitate the purchase of additional properties.

This transaction, secured at 75% LTV and incorporating a portfolio indemnity, represents a significant achievement in delivering substantial time and cost savings for the client.

Myles Williams, CEO of Envelop, the broker who facilitated the deal, said:

“This £6.9 million remortgage is a testament to HTB’s ability to respond swiftly and efficiently to our client’s needs.

HTB’s specialist expertise and hands-on approach not only simplified the process but also delivered substantial benefits, ensuring our client achieved their financial objectives smoothly and effectively.”

Alex Upton, Managing Director of Specialist Mortgages at HTB, said:

“Utilising a portfolio indemnity allowed us to streamline the legal process by covering multiple properties under a single insurance policy.

This approach was key in expediting what could have been a very complex transaction.

At HTB, we’re always looking for ways to simplify the process and add value for our brokers and clients, especially when managing large portfolios.”

Andrea Glasgow, Sales Director at HTB, added:

“Our intermediary partners highly value HTB’s ability to handle even the most complex and unique cases.

This deal exemplifies how HTB’s pragmatic, people-focused approach truly sets us apart in a market where automated, rigid processes often fall short.

Our success is rooted in our deep understanding of the distinct challenges brokers and their clients face and our commitment to working collaboratively to find the right solutions.

The successful conclusion of this deal perfectly illustrates the exceptional service that HTB is known for.”