Complete FS

Packager completes its biggest BTL case

Complete FS has arranged its largest BTL case to date with the remortgage of a £21.6m BTL portfolio of 100 properties.

The case – which also included incorporating the portfolio into a limited company structure – was funded by InterBay Commercial, part of OneSavings Bank.

Commenting on the deal, Damian Cain, director at Complete FS (pictured above), said that it was a four-way process which involved the client’s mortgage adviser, his tax adviser and the teams at Complete FS and InterBay.

“Due to the complexity of this deal, we requested the adviser work closely with the customer’s tax specialist to ensure that a limited company structure was indeed the right solution and that the correct procedures were followed to make it happen.

“At the same time, we looked at all the potential remortgage options and having talked it through with some of our lenders, we decided to opt for InterBay as [it] had the ability, expertise and experience to assist with such a large and complicated case.”

Damian continued by stating that it negotiated a bespoke deal with InterBay, which throughout the process demonstrated an accommodating and flexible approach that enabled it to produce an offer which was bespoke for the customer.

Adrian Moloney, sales director at OneSavings Bank, added: “We have worked closely with the team at Complete and, over time, have developed a strong and mutually beneficial relationship.

“The value of that relationship was very much in evidence here.

“This is one of the larger loans we have provided and, due to its complexity, required close and open co-operation between Complete and ourselves to ensure the right outcome was delivered for the customer and met his adviser’s requirements.

“We are delighted to have been able to assist and provide a solution, which might very well have not happened without the relationship between us and Complete FS.”

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