Recognise Bank lends £5m for BTL portfolio refinance

Recognise Bank has completed a £5m loan for the refinance of a professional BTL portfolio of over 100 properties in the Manchester area.

The deal was introduced by Navitaur Limited consultancy on behalf of the client, a family-owned property investment company. 

The loan was agreed at 50% LTV and priced at 3.49% over a five-year fixed term, using the lender’s newly launched professional BTL product.

Jackie Skelt, regional director for London and the Midlands at Recognise Bank (pictured above), said: “This was one of our first professional BTL deals and it proved that our personal approach to the sector is really powerful.

“By working with Nick Bennett [managing director at Navitaur Limited], we were able to meet his client’s requirements and complete the multi-million-pound deal quickly. 

“We know that many advisers struggle getting large BTL portfolios financed with some other lenders, because they don’t have the expertise or one to one relationships needed to complete such large deals, and we are already seeing a lot of interest in the new product.”

Nick added: “I have been really impressed with the way Recognise Bank assisted me in structuring this PTBL facility for my client. 

“Within my client base, I have a small portfolio of family-owned property investment companies and the flexibility demonstrated from the top down is exactly what my clients look for. 

“It has been a real pleasure to work with Recognise Bank and benefit from its service offering, with real relationship banking, pragmatism and autonomy; from my initial experience, this model should be incredibly successful.”

Leave a comment