Hampshire Trust Bank & The Buy-to-Let Broker complete complex £1.2m deal in record time

By Bridging Loan Directory 20th June 2024

Hampshire Trust Bank (HTB), in partnership with The Buy to Let Broker, has completed the purchase of nine leasehold flats in record time, saving the client a substantial six-figure sum in Stamp Duty Land Tax (SDLT).

The £1.2m deal was finalised in just 15 working days, overcoming significant obstacles to achieve a successful outcome.

HTB’s expertise in unusual cases and proactive approach was called upon due to the complexities and urgency of the case.

Bridging finance was not a viable option for the client, needing a lender with the capabilities to handle a complex transaction to secure the deal.

The transaction, needing to be completed in just 15 days, involved numerous challenges, including the presence of vulnerable tenants, two sets of ILAs, and one unit lacking an Energy Performance Certificate (EPC).

Despite these challenges, the team successfully navigated every obstacle to deliver a great outcome for the client.

Wes Baker, Business Development Manager at HTB, commented:

“HTB are geared-up to handle complex and specialist cases.

This challenging case is a great example of how strong relationships and expert knowledge, combined with great communication and old-school underwriting expertise in the specialist sector, deliver great results.”

Matt Hardman from the Buy to Let Broker said:

“To say the HTB team is collaborative is an understatement.

They worked hard to find solutions to potential hurdles and challenging structures, which is rare in the specialist lending space.

At every stage of the transaction, the team couldn’t have done more to ensure the deal met the extremely tight timeframe, supporting our new client with a six-figure SDLT saving.

It has been a pleasure to see both our teams work in such a dedicated and collaborative way on this incredible completion.”

Andrea Glasgow, Sales Director at HTB, added:

“We’re proud of our reputation for taking on and successfully delivering complex and unusual cases. This is an excellent example of where the combined expertise of our team, lender, broker, solicitor, and surveyor, working on a challenging case delivers outstanding results.

This successful completion underscores HTB’s ability to manage intricate transactions efficiently and our commitment to providing top-tier service and solutions.”