Karis Capital has advised on a £4.7m refinance for a client’s residential buy-to-let (BTL) portfolio.
The deal, arranged by Christian Artimadis (pictured), involved switching from a high variable rate tracker to a competitive 5.2% fixed rate over five years.
This change is expected to save the client approximately £30,000 per annum and will utilise £1.3m for further investment to expand the portfolio.
The new loan facility will enable the client to finance their collection of 28 BTL properties with lower monthly payments and additional capital to grow their portfolio.
Christian Artimadis, associate at Karis Capital, said: “Our new client had been on a base rate tracker for years and as the rate sharply rose their facility became too expensive and swift action was needed.
“Upon reviewing their portfolio and overall requirements we were able to work quickly to provide a more stable and attractive finance facility, which also raised additional equity for further investment, whilst still reducing their monthly mortgage payments.”
Nicholas Christofi, CEO and co-founder of Karis Capital, said: “Christian has truly excelled in putting this deal together and his work encapsulates our cover offering at Karis Capital.
“We strive to add value and improve our clients’ financial position and this new facility is the perfect case study.
“Christian took on a client that had maintained their base rate tracker for too long and had to work quickly and nimbly to secure a deal that added extra security, whilst generating funds for investment.
“This is a fantastic achievement and a very happy client is the best outcome.”
