Shawbrook has supported a professional landlord with a refinance deal to purchase a semi-commercial property in North London.
The value of the interest-only, semi-commercial loan was £1,295,000 at 71% loan-to-value (LTV), including fees, for a term of 25-years.
Already an existing Shawbrook customer, with a large overall exposure of £8.9m, the client was looking to purchase a five-storey Victorian property.
The property comprised a commercial space on the ground and lower ground floors, featuring a pair of mid-terrace shops, and a six-unit house in multiple occupation (HMO) on the upper three floors, as well as a roof extension and basement.
Shawbrook worked with DAS Finance Ltd to deliver a funding solution that allowed the customer to repay a bridging loan used to purchase the security originally.
David Van Praagh, director at DAS Finance Ltd, said: “Shawbrook’s commitment to understanding our client’s unique needs and delivering tailored finance solutions has been instrumental in fostering a long and successful partnership.
“With this latest refinance deal, Shawbrook supported our client’s journey of portfolio growth and clearly demonstrated its capability in providing reliable specialist finance solutions to meet their unique needs.
“Shawbrook’s dedication to our client’s evolving needs is a testament to the strong relationship we’ve built over the years.”
Daniel Standing, national relationship manager at Shawbrook, added: “We are thrilled to assist our customer in achieving their property investment goal.
“This particular case represents a significant milestone in our relationship with this valued customer, who has successfully broadened and diversified their portfolio with the aid of our financial solutions.
“We have recently enhanced our Commercial proposition, and we are delighted to be supporting both landlords wanting to diversify and those already experienced in the commercial sector.”
