LHV Bank has completed a £14m specialist buy-to-let (BTL) funding package for a private family office with a track record in property investment and development.
The funding facilitated the refinancing of multiple large-scale residential properties across Manchester and West London.
The first phase of the transaction involved refinancing four substantial apartment blocks comprising 72 apartments within a single complex in Manchester.
Following this, LHV Bank provided nine additional loans to refinance a portfolio of six-bed house in multiple occupation (HMO) properties on the outskirts of West London, which the borrower had acquired and fully converted.
The transaction, introduced by Alex Haffner, managing director at Fusion Funding, enabled LHV Bank to provide a competitive and bespoke refinancing solution.
This funding allowed the borrower to unlock capital and further expand their property portfolio.
The initial loan was completed in just eight weeks, covering credit approval, valuation, and legal processes, despite a counteroffer from the borrower’s existing lender.
For the subsequent transactions, LHV Bank addressed challenges such as non-standard construction, ongoing conversion works, and active HMO licensing applications.
Conor McDermott, director of SME lending at LHV Bank, said:“This transaction is a testament to LHV Bank’s ability to structure bespoke lending solutions for sophisticated property investors.
“By taking a case-by-case approach, we provided tailored funding that met the borrower’s needs, from refinancing large MUFBs to structuring loans for HMO properties.
“We’re pleased to have delivered a flexible solution in tandem with the dedicated and dynamic approach from Fusion Funding.
“This allows the borrower to continue growing their portfolio, and we look forward to supporting similar clients in the future.”
Alex Haffner, managing director at Fusion Funding, added: “LHV Bank demonstrated exceptional agility and expertise in structuring these loans.
“Their ability to navigate non-standard property types and complex licensing requirements ensured that our client achieved their refinancing objectives while unlocking vital equity for future investments.
“It was a pleasure collaborating again with them on this transaction, and we value our close relationship going forward.”