Refinancing a Mixed Portfolio
Sometimes, requiring finance can be more complicated than simply needing to pay for a property purchase. One funding deal may need to do multiple things. That was the case for our client who needed refinancing, purchasing and consolidation all in one deal.
Complex Portfolio Refinancing Request
With a mixed-use scheme in London – one retail unit and six flats – our client came to us requiring £3.1m to clear debt and to consolidate other loans. However, in order to meet mortgage payments, they needed to acquire further properties. It was hoped that the rent of these new properties would cover the costs of the repayments.
What We Did
The Pure Property Finance team, and Tom in particular, worked very closely with our funding partner to ensure the loan could be completed, with an agreement that some of the repayments could be deducted from the initial advance so that the loan could go ahead.
The deal was successful and we are pleased to say our client has consolidated their finances effectively.