Hampshire Trust Bank (HTB) has completed a complex £6.9 million remortgage for a property developer with a diverse portfolio of 65 properties across the Midlands.
By leveraging the value of the portfolio and utilising a portfolio indemnity, HTB enabled the client to refinance and also unlock equity to facilitate the purchase of additional properties.
This transaction was secured at 75% LTV and incorporates a portfolio indemnity.
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 (pictured), managing director of specialist mortgages at HTB, added: “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.”
