This North London developer had been let down by their previous broker/lender partnership and were under time pressure to refinance. Taking the market conditions into consideration it was agreed that the best route would be to split the freehold into leaseholds to allow the client to both sell and retain units. Sirius secured the maximum leverage in order to repay the existing loan and retain 11 units on an investment mortgage. Sirius arranged bridging finance for the remaining 2 units in order for the client to sell. Despite the complex ownership structure in the background, which involved a mixture of BVI, foreign national and UK investors, Sirius advisors guided the deal to successful completion within 8 weeks.
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