Alex Searle

HTB completes £3.1m development exit facility

Hampshire Trust Bank's (HTB) specialist mortgages division has completed a complex £3.1m development exit facility within 24 hours.

A remortgage was provided through the facility on nine newly built flats in Poole, Dorset, which are part of a larger development of 36 apartments.

“The team created a bespoke term facility to allow the very quick refinance of a complex developer exit loan,” said James Mayson, commercial adviser at Kingswood Associates.

“It was taken from enquiry to completion in five weeks and this included a full valuation and legal process, offered and completed with 24 hours.

“Speed, efficiency and drive are where HTB excels and we’re delighted it has over delivered on this once again.”

Alex Searle, sales director of the specialist mortgages division at HTB (pictured above), added: “This is another great example of where the combination of our specialist proposition and close collaboration with key stakeholders has delivered a great result.

“Paris Smith, again, provided an impeccable service to ensure the case completed within the timescales set.

“It is this ability to marshal our expertise and experience together with our partners that positions us as the go-to lender for these complex deals.”

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