By leveraging the value of the portfolio and utilising a portfolio indemnity, the client was able to refinance and unlock equity to facilitate the purchase of additional properties.
The developer manages a portfolio of 65 properties across the Midlands, consisting of both flats and houses.
The loan, which was secured at 75% LTV, was facilitated by broker Envelop.
Commenting on the deal, Alex Upton, managing director of specialist mortgages at HTB (pictured above), said: "Utilising a portfolio indemnity allowed us to streamline the legal process by covering multiple properties under a single insurance policy.
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“This approach was key in expediting what could have been a very complex transaction.
“At HTB, we’re always looking for ways to simplify the process and add value for our brokers and clients, especially when managing large portfolios.”
Myles Williams, CEO at Envelop, added: “This £6.9m remortgage is a testament to HTB’s ability to respond swiftly and efficiently to our client’s needs.
“HTB’s specialist expertise and hands-on approach not only simplified the process but also delivered substantial benefits, ensuring our client achieved their financial objectives smoothly and effectively."
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