Residential lending

Bridge to let loan, portfolio of 5 large freehold properties

The finance
A client with a £200 million property portfolio wanted to raise money for further property investment, while also looking to give themselves time to refinance existing loans to a cheaper lender. As part of their wider portfolio, the client owned a number of units above a well-known North London pub, including eight studio flats and two one-bedroom apartments. They wanted to repay the current first charge debt on these high yielding rental properties and raise further cash for additional investment.
£
10.5m
single loan
36
month-term
70
%
LTV
Our solution
We suggested the client take out an Octopus Bridging Loan that would give them the flexibility they needed. Because the client was trying to obtain cheaper term finance that was taking longer than expected, we structured a lending option that gave them a seven-month nil exit, so they could repay us with no charge. If the refinancing went past seven months, the product automatically switched to a Buy to Let loan, which gave the client added security that they could still achieve the refinancing and restructure their portfolio even should there be unanticipated delays
"Speed and certainty played a huge part in completing this deal. We were able to make available a much larger sum of money than high street lenders, and because we were able to remove specific fees we took the pressure off the client, by giving them more time to find the funding they needed. We also gave the client the certainty they needed by complete so many units under one loan."
Daniel Murray
Business Development Manager
Residential lending
We work with hundreds of property developers, we know every project is different, and we are flexible to meet individual needs
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