Client: An experienced portfolio landlord refinancing six mixed-use properties across the North East and Yorkshire.
Purpose of Loan: To redeem a facility in receivership and stabilise a diverse property portfolio.
Loan Summary:
- Loan Amount: £2,418,000 (Net advance: £2,219,724)
- Term: 6 months (3 months interest retained)
- Security: 1st legal charges over six properties; Debentures; PGs and Corporate Guarantee
- LTV: 58.62% Gross (on MV), 65% Gross (on 90-day value)
Challenges:
- Refinance needed due to receivership
- Vacant units across portfolio
- Mix of asset types and locations
Outcome:
- High-value refinance facility completed
- Client retained control of portfolio
- Exit planned via term refinance post-stabilisation
Added Value: Secured a facility across multiple properties enabling strategic recovery.
