It’s been a busy few months for the Specialist Mortgages team.
We provide tailored solutions for complex requirements
For your clients looking to expand, restructure or diversify their portfolios, our specialist team works with you to help find the perfect solution. We aim to bring transparency, flexibility and expertise to the way we do business. As part of this, we are constantly innovating and expanding our proposition to reflect market volatility and borrowers evolving needs.
As always, give us a call if you wish to discuss your client’s requirements in more detail. You can get in touch with the team by calling 020 7862 6244 or alternatively email us.
| Background | The broker came to us in February to assist his client, who was looking obtain a term facility on a newly built flat that the client purchased with the aid of a bridging loan 5 months earlier. |
| Challenge | The client was a Pakistani national and was residing in Pakistan, and prior to this was resident in Dubai for 4 years, only UK link was a communications account. |
| Aim | Offer funding at a sufficient level to allow the client to exit his bridging facility that was used to purchase the property. |
| Deal | HTB offered the client 65% LTV on a 5yr fixed product at 4.39% (standard pricing). We established a credit footprint on the client at the UK address in which they had previously resided at. We obtained evidence of the client’s existing earnings and previous earnings in Dubai (via an employer reference) to assist with the source of wealth evidence. |
| Background | HTB presented with a new build apartment block (>100 units) that sought £3m to exit development finance. Client sort to sell a minority and units, and retain the remainder. Upon review of the security and the client’s long-term business objectives, there appeared to be room for a significantly larger facility. |
| Challenge | The complex had recently completed and had relatively light marketing, which was reflected in few sales and sparse tenanting. |
| Aim | To provide the clients with a large facility that would fund their next development project. |
| Deal | HTB reviewed the client’s group of companies, financials and assets. The Bank structured an inter-company guarantee, which cross utilised income to service the debt on the Bank’s security. A net advance of £5.8m was provided, allowing the client to exit their development finance, fund their next development project and had favourable overpayment terms should further units be sold. |
| Background | Funds required to repay an outstanding development facility (£5.6m) and investor funds (£300k). |
| Challenge | Due to the nature of the security (x16 apartments, x3 commercial units) HTB needed to lend on a block discount. This meant that the maximum standard leverage (75%) was not enough to repay the investors. |
| Aim | Strong clients and security, HTB needed to devise a strategy that provisioned enough funds that would allow the clients to settle all outstanding balances. |
| Deal | HTB took a holistic approach to the transaction. We provided a gross lend at 79.6%, discounted our arrangement fee and amortised the introducer’s fee. There was a full 3 year amortisation profile, that brought the deal back into standard policy with 2 years remaining on the fixed rate. |
| Background | BVI company, £7m portfolio which consisted of nine residential flats as well as four ground floor offices. |
| Challenge | Properties were held in a Bare Trust and the UBO owned no other assets. £5.1m was required to repay existing bridging loan that was used to develop the property, and capital raise for further investment. Current use of property by tenant was as a quasi-hotel. |
| Aim | To be able to complete due diligence and fully understand the structure of the deal to raise the required finance. |
| Deal | HTB provided a 75% advance of £5.1m which was in the main agreed using the rental income from the residential element of the asset. |