Ramsay & White completes complex mixed-use refinance in six weeks

Ramsay & White has completed a refinance on a complex mixed-use High Street property, helping the client exit a bridging loan within a tight timeframe.

The borrower had originally acquired the property using bridging finance, with plans to refurbish the residential units, increase the asset’s value and refinance before costs increased.

The property comprised two flats above a ground-floor commercial unit operating as a funeral directors.

While the transaction initially appeared straightforward, a number of factors reduced lender appetite.

The building was Grade II* listed, the commercial element included an onsite morgue, and the property was situated next to both a pub and a betting shop.

With limited time remaining on the bridging facility, securing a workable refinance structure quickly became the priority.

Ramsay & White focused on identifying a lender comfortable with the asset and presenting a clear refinance strategy alongside the ongoing refurbishment works, helping maintain momentum throughout the process.

The completed structure enabled:

• The refinance to complete within six weeks
• The bridging loan to be repaid before higher costs were incurred
• The residential units to be refinanced at improved values
• The commercial element to be retained separately

Alec Witts, Partner at Ramsay & White, said:

“Deals like this come down to getting the right lender comfortable early on.

By focusing on structure and how the deal was presented, we were able to deliver a clean exit from the bridging facility and put the client in a much stronger position.”

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