The facility was provided at a rate of 3.35%, fixed for five years on an interest-only basis.
Of the total sum, £6m was used to refinance the client’s existing debt, while the remaining £4m will be utilised by the borrower to buy additional investment properties.
The case, which included the creation of new long leasehold titles, progressed from application to offer in just eight weeks, with another four weeks to completion.
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John Little, regional lead for the Midlands hub at YBS Commercial Mortgages (pictured above), said: “It’s fantastic to get this complex transaction over the line, and so quickly too.
“We’ve seen some real collaboration between the broker, solicitor and our team to deliver a great result within the client’s timescales.
“The Midlands team has only been complete for the last nine months, so it’s amazing to see the growth we continue to achieve.”
Stuart Bradney, head of investment lending at Carbon Funding Consultants, who brokered the deal, added: “It was a pleasure to work with such an efficient team of professionals to complete this loan in an expedient and seamless manner, and I’m delighted with the outcome."
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