Residential Investment LoanInvestment Loans Residential
It' NOT Buy-to-Let, but as the column says, Residential Investment.
Shawbrook grants the client a £4.2 million housing investment loan.
Shawbrook's Shawbrook business real estate investment credit of 4.2 million for residential real estate was concluded in two short terms. This specialised creditor made the loan available to a building owner who wanted to finance himself for further real estate developments and take up additional funds. Shawbrook was presented by Mark Flower of Stratford Corporate Finance acting as broker.
Shawbrook's loan and group loan teams debated the case - a sophisticated three-block private equity deal on one security in Gillingham, Kent - before issuing the required rating permit, allowing the borrowers to act immediately without the need for additional assessment or litigation fees. Loan staff meetings were held with the borrowers to make sure that all conditions were fulfilled and that funding was provided within two month of receiving the evaluation.
"A valued long-term customer - a development and investment firm - turned to us to fund 38 homes they had built in recent years," said Mark of Stratford Corporate Finance. "However, the titles had not been divided and all 38 were on one property. "Given the cost of refinancing, customers wanted to maximize their leverage to 75% LTV.
"She] acknowledged that this was quite a strong focus, but the fact that the 38 apartments were spread over three perfectly good looking units gave them a hands-on perspective. "Chawbrook also consented to borrow against unit ownership rates instead of investing in the markets and we could provide £4.2 million to the customer for a 10-year, purely interest-based business.
Shawbrook Sr Gavin Seaholme, Shawbrook Superior Head of Corporate Finance (see picture above), added: "Our traditional flexibility in approaching clients and providing certainty - combined with a close working partnership with Stratford Corporate Finance - enabled us to simply, frankly and often interact. "Shawbrook was used to this kind of complicated loan as a true temptation, but that's the kind of deal it's used to.