£5.3m HMO portfolio refinance completed

This week we completed on a £5.3m bridging facility secured against 66 HMO rooms across four freehold titles in Coventry City Centre.

The 12-month serviced facility was structured at 75% LTV against the investment value of the properties, with a rate of 0.88% per month. The funding enables our borrower to transfer the properties into a new SPV, supporting their exit plans and longer-term investment strategy.

The transaction required a considered approach to both structure and security, with an amendment to the facility needed during the process. We were able to remain flexible and structure the additional security to maximise the day-one drawdown for our borrower.

The deal was underwritten by Harry Dick-Cleland and introduced by Jo McCarthy of B2B Finance.

Annaliese Ellis, BDM at Glenhawk, said:

"A transaction of this size and complexity requires a huge amount of effort from all parties. Hats off to everyone involved for delivering a great outcome for our client."

Jo McCarthy of B2B Finance added:

"Glenhawk kept the transaction on track and managed all parties effectively. When an amendment to the facility was required, Glenhawk was flexible in its approach to the additional security and structuring of the facility to maximise the day-one drawdown."