Word On The Street and Hampshire Trust Bank close £16.8m in BTL lending for portfolio landlord

By Bridging Loan Directory 16th December 2024

Specialist mortgage broker Word On The Street and property lender Hampshire Trust Bank (HTB) have completed £16,762,500 in BTL funding for a Midlands-based landlord client.

Word On The Street arranged three loan facilities in October and November this year, supporting the borrower, a long-term customer of the business, in refinancing and releasing equity from several BTL properties in their extensive portfolio.

HTB initially advanced £7.9m for the refinance of a selection of large HMO assets, £2.4m of which was required to fund further property investment.

Subsequently, the lender funded two BTL loans of £4.3m and £4.6m, used to refinance multiple properties on which bridging needed to be repaid (also provided by HTB) and cash raised for deployment elsewhere.

All three five-year facilities were at 75% LTV and priced at 6.39-6.59%.

Michael Street, pictured, Partner at Word On The Street, worked closely with Wes Baker, Business Development Manager, Specialist Mortgages at HTB, during the loan process.

Michael commented:

“Our understanding of specialist lenders’ appetites and capabilities means that our clients can rely on us for solutions that are fit for purpose.

In this instance, our goal was to move the borrower onto a longer-term product, at a better rate, with the option to release cash for growth.

Working with HTB as a lifecycle lender has been instrumental, speeding up underwriting, credit decisions and completion timescales.

It is a pleasure partnering with Wes and the team on what is sure to be a fruitful ongoing relationship between all parties.”

Wes stated:

“I’ve really enjoyed working alongside Michael and the wider team at Word On The Street; they have always demonstrated excellence in the way they present their clients to HTB, and it’s clear they go above and beyond to ensure the right deal is place with the right lender.

The background team at HTB and I have forged a solid relationship with Word On The Street and we’re excited to see what 2025 will bring.”