InterBay, part of the OSB Group, has completed a £42.5m refinance deal for a portfolio of 94 units across 17 limited companies.
The financing covered a mix of semi-commercial and buy-to-let (BTL) assets, all set to complete on the same day and consolidate into a single portfolio with InterBay.
The deal also raised additional capital for further investment.
The multidisciplinary team, which included InterBay’s in-house underwriters, sales and completions staff, and the external legal team at Paris Smith, managed the process.
Adrian Moloney (pictured), group intermediary director at OSB Group, said: “This complex deal really highlights the expertise we have at InterBay in structuring bespoke portfolio finance.
“Having collaborated with REF Capital on a number of previous cases, Andrew and his team had assurance right from the start that we would be able to deliver.
“InterBay’s Specialist Finance Account Manager, Mo Parmar, and the team at REF Capital worked closely to reach a tailored solution with bespoke structure, fees, valuation, legals and timings.
“Using title insurance helped speed up the legal process, leading to a smooth and quick completion process.”
Andrew Drummond, director at REF Capital, said: “InterBay are without doubt the experts when it comes to complex specialist buy to let and commercial finance.
“Their ability to reconcile large portfolios into one application is an absolute game changer and made such a difference.
“This case had a number of challenges, which I’m not convinced other lenders would have the expertise to manage.
“Not only did we complete on time but the level of service throughout the process was also exceptional.
“Mo and the specialist team really went the extra mile, resulting in a very satisfied client.”
