The Challenge
A UK based, overseas owned property company were looking to refinance existing bank loans on expiry of commitment and release additional cash to support future purchases. The client has a mixed portfolio comprising of residential and commercial investments assets across the UK.
The Solution
PMD helped to arrange a new £5m portfolio loan provided on a fixed rate 25 year capital repayment term, at a blended LTV of 72%. The facility limit covered all costs associated with the transaction, allowing the client to free up capital and assets in support of future funding requirements.
The Result
The improved terms secured by PMD enabled the client to release their commercial properties from the incumbent bank’s security, with the new portfolio loan secured against residential assets and rental income only.
“We were delighted to work with our returning client to deliver a new secured loan on enhanced terms. The management team are highly experienced and remain acquisitive, seeking out new investment opportunities within markets they know well. Our specialist property finance team are pleased to be able to support the businesses growth ambitions by arranging this committed facility."