Hampshire Trust Bank (HTB) has completed a £4m refinance facility to support an experienced landlord in Whitechapel, London, enabling the client to consolidate two semi-commercial properties.
The landlord had initially acquired the assets using bridging finance and later improved the planning position while strengthening the rental income. HTB was approached to refinance the bridge and release equity against the increased market value, allowing the client to repay existing debt and fund further portfolio expansion.
The deal was introduced by Vishal Verma of Key Capital. HTB combined the two semi-commercial buildings, each comprising a lock-up shop with nine flats above, into a single 10-year, interest-only facility at 77% gross LTV.
The transaction was supported by Joseph Lethbridge, business development manager, and Kris Siva, underwriter at HTB, who engaged with the case before submission and collaborated closely with the broker to structure a practical solution. Completion also required the release of a debenture from another lender, which was successfully resolved to allow the deal to proceed.
Vishal Verma, director at Key Capital, said, “Many lenders were not prepared to look past the original purchase price, but HTB recognised the genuine uplift and took a pragmatic view. Their collaborative approach not only refinanced the bridge but also released capital for further investment, giving my client confidence to keep expanding. It shows the benefit of a specialist lender that understands how landlords operate in today’s market.”
Joseph Lethbridge (pictured), business development manager, specialist mortgages & bridging finance at HTB, commented: “This case had a number of moving parts, from recognising the uplifted value to resolving the additional security requirements, but by working directly with Vishal and with Kris as underwriter, we were able to get the structure right quickly. It shows the benefit of HTB’s flexible approach to criteria, where we look at the client’s business model and apply our expertise to achieve the right outcome for both broker and borrower.”
Andrea Glasgow, sales director, specialist mortgages & bridging finance at HTB, added, “Brokers often bring us clients who have added value to assets but find that many lenders will not recognise it. This case shows how we can step in, work with brokers to reflect the true position and help clients move from bridging into long-term funding. That is where we make the difference, giving brokers confidence that HTB will back them on complex cases and support their clients’ future growth.”
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