Hampshire Trust Bank provides £20m HMO portfolio refinancing facility

12 December 2023

Hampshire Trust Bank (HTB) has completed a £20m loan for the refinancing of a major property portfolio in the North East.

The portfolio consisted of 32 student Houses in Multiple Occupation (HMOs) in a prestigious university city.

The client, who runs a significant property business, needed to remortgage the 32 HMOs and raise over £4m in capital for future property investments, as well as undertaking light redecoration and refurbishment works.

The transaction was introduced by Mark Nixon and Fiona Smith of Finance 55, who contacted HTB because they knew the bank are experts in dealing with large, complex HMO portfolios, with an appetite to lend up to £25m to experienced landlords and investors.

HTB worked efficiently to complete the deal, swiftly obtaining local information on the market in the North East and agreeing appetite at an executive level early on in the process to ensure all elements were in place for approval.

The bank’s service exceeded both broker and client expectations thanks to its award-winning service proposition, alongside a fast and efficient end-to-end process and expert property bankers handling the transaction from start to finish.

Fiona Smith, senior debt advisor, Finance 55, commented:

“Mark and I are thrilled to get this facility secured for the client - structuring and sourcing the right debt solution whilst providing outstanding service is our aim. HTB pride themselves on providing exceptional service to their brokers, and this is a testament to that commitment. They adopted a collaborative approach, and we look forward to working with them again.”

Chris Daly, managing director – specialist mortgages, Hampshire Trust Bank, added:

“This deal clearly demonstrates our genuine appetite for providing large loan solutions to property investor clients.

“Collaboration was key to the success of this deal. With its size, and scope, there were numerous moving parts to ensure it worked from a legal point of view as well as lending perspective. Mark and Fiona are experts in their field and provided the necessary supporting information quickly.

“HTB offers flexible lending criteria, quick decisions and market-leading service on complex portfolio deals for large property investors as well as straightforward buy-to-let cases, and this HMO refinancing was a perfect example of the former. It was a fantastic result for all those involved.”