The refinance of the Mill Street development in Greater Manchester was a complex deal requiring agility and expertise. Initially, the borrower planned to refinance 4 out of 7 residential units with Hope Capital, while another lender would refinance the remaining three. However, unexpected last-minute changes meant that a full-site refinance provided by Hope Capital was required instead.

Our fantastic Senior Underwriter, Andrew Bate, quickly adapted the structure of the deal, ensuring the entire site could be refinanced under one facility rather than with multiple lenders. This provided the borrower with greater financial flexibility and a streamlined exit strategy, as they can now work with our portfolio management team to redeem on one facility, saving time and hassle.

The final loan amount was £1.38m, structured at a very competitive 75% LTV over a 12-month term, giving the borrower sufficient time to exit the development without unnecessary complications. Full title insurance was used to cover all seven properties, helping to save the borrower significantly by avoiding expensive legal checks and facilitating a speedier conveyancing process.

The deal was successfully completed through the collaboration of Andrew, our Business Development Executive, Ben Lavelle, National Account Manager, David Weir, broker Thenu Thevarajah from Revelle Capital, and Jack Medlicott from MSB Solicitors. This case study demonstrates our ability to navigate last-minute changes and deliver tailored solutions that support borrowers’ long-term goals.