The client had originally acquired the assets using bridging finance before improving the planning position and strengthening the rental profile. HTB was approached to refinance the bridge and release equity against the uplifted market value, enabling the client to clear existing debt and fund further portfolio growth.

The case was introduced by Vishal Verma, director at Key Capital.

HTB was able to take a view on the uplift and combined the two semi-commercial buildings, each comprising a lock-up shop with nine flats above, under a single 10-year, interest-only facility at 77% gross LTV.

The deal was delivered with the support of Joseph Lethbridge, BDM (pictured above), and Kris Siva, underwriter at HTB, who engaged with the case pre-submission and worked closely with the broker.

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Completion required the release of a debenture from another lender, which was successfully resolved to allow the deal to progress.

Vishal commented: “[HTB’S] collaborative approach not only refinanced the bridge but released capital for further investment, giving my client confidence to keep expanding.”

Joseph said: “This case had a number of moving parts, from recognising the uplifted value to resolving the additional security requirements, but by working directly with Vishal and with Kris as underwriter we were able to get the structure right quickly.”

Andrea Glasgow, sales director of specialist mortgages and bridging finance at HTB, added: “Brokers often bring us clients who have added value to assets but find that many lenders will not recognise it.

“This case shows how we can step in, work with brokers to reflect the true position and help clients move from bridging into long-term funding.”