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Case study

Senior debt plus
equity/mezzanine funding

Our client was looking to purchase a site in Milton Keynes for £10m which had consent for 100 plus residential units. They were very active developers and had six other sites under construction, which had caused a drain on their cash resources and the equity that they could inject into this transaction.

Funding requirement: the development appraisal set out total costs of £17m against a GDV of £26m. We were instructed to source the full costs of the project on the most favourable terms for the client without them having to inject any significant cash into the costs.

Facility provided: we negotiated a structured finance deal with a senior debt lender providing £13m and an equity provider funding the balance of the £17m costs. The senior debt had standard pricing terms and the equity partner agreed a fixed coupon for their funds of 20% rather than a profit share as this was the client’s preference.

Case study

PORTFOLIO

The client in this case had an existing portfolio of 23 residential properties worth around £8m, but each was mortgaged to a separate buy-to-let lender.

Funding requirement: the client wanted to simplify their financing arrangements by having one lender across the whole portfolio plus they wanted to capital raise to allow them to purchase further investment properties.

Facility provided: we were able to offer a range of possible solutions from 60% LTV up to 75% LTV, but the client decided that a 65% facility was the best mix of gearing and pricing as we were able to secure this at a rate of circa 3% and with a 1% lender fee.

Case study

Bridge:
unsuitable property

An existing client was an active buy-to-let investor, but had identified a property with a great deal of potential, overlooking the fact that it did not have a usable kitchen or bathroom.

Funding Requirement: the client wanted a mortgage that would allow them to purchase the property, to put in a new kitchen and bathroom and keep the property as a long-term investment.

Facility Provided: we organised a facility that covered 70% of the purchase price for three months to allow the work to be completed and then the facility was switched to a long-term product at lower interest rates with the same lender to ensure that the client did not have to pay any additional fees.

Development Finance

Investment Finance

Short Term Finance

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