HTB completes £2.5m triple refinance for northern investor group

Hampshire Trust Bank (HTB) has completed three specialist property refinances totalling approximately £2.5m across Yorkshire and Greater Manchester.

The facilities were completed in quick succession for three borrowing SPVs controlled by the same investor group, establishing new borrower relationships for HTB across properties in Leeds, Hyde and Sheffield.

The transactions covered a mix of BTL and semi-commercial property. The assets included a three-flat freehold in Leeds, a mixed-use building in Hyde comprising a retail unit and 12 apartments, and a Sheffield property with eight apartments above a commercial unit.

Across the three assets, 23 residential units and two commercial units were refinanced onto appropriate term facilities at current market value, with additional capital released against the Leeds property to support further acquisitions.

Each case had its own requirements, including mixed freehold and leasehold tenure, part-sold blocks, multiple borrowing entities and semi-commercial income with a strong residential weighting.

HTB assessed each asset on its individual characteristics while taking account of the wider borrower structure and investment experience.

All three transactions completed ahead of redemption penalty dates, avoiding additional costs for the borrowers. On one facility, funds were released on the same day the final certificate of title was received.

The deals were introduced by Roscap, a Manchester-based real estate debt advisory firm led by co-CEOs Suleman Rafiq and Clemente Apollonj-Ghetti.

The cases were submitted fully packaged, with supporting information provided from the outset.

Regional account director Wes Baker (pictured above) worked closely with Roscap throughout, supported by HTB’s underwriting and completions teams.

Suleman said: “HTB consistently shows up as a genuine lending partner.

“Wes and the wider team understand complex property and engage constructively on how cases can be structured, while their completions team is highly responsive when deadlines matter.

“These three transactions are a strong example of what that partnership can deliver for clients.”

Wes added: “Good specialist lending starts with understanding the asset, the structure and the customer properly.

“Across these three cases, we had a range of property types, tenure positions and borrowing structures.

“That meant looking at each asset on its own merits rather than trying to apply the same approach across the board.

“The deadlines mattered too. Our underwriting and completions teams stayed close to each case and, once the necessary requirements were satisfied, made sure we kept momentum through to completion.”