CHL Mortgages has completed a £5m portfolio refinance for a London landlord with speed and underwriting flexibility proving key to repaying an expiring bridging facility.
The deal involved refinancing 10 properties in Lambeth, south-west London, with the borrower facing a tight deadline as an existing bridging loan approached the end of its term.
The case highlights the ongoing reliance on specialist lenders to execute complex exits from short-term finance, particularly where portfolio structures and exposure limits require careful management.
Following an initial assessment, the lender identified the case as a strong fit, reflecting continued demand for portfolio refinancing despite tighter credit conditions and elevated borrowing costs.
EXPOSURE LIMITS MAINTAINED
To accelerate the process, a single underwriter was assigned to manage the case end-to-end, coordinating valuations and issuing offers simultaneously across the portfolio. Lending on one asset was capped to ensure overall exposure limits were maintained, allowing the wider transaction to proceed.
Midway through the process, the structure shifted after accounting advice prompted a move from 5-year fixed rates to 2-year products, increasing the borrower’s exposure beyond initial thresholds.
In response, nine loans were completed first to reduce the outstanding bridging balance, with the final case subsequently approved, enabling the full refinance strategy to complete.
The lender also used search indemnity insurance to support a faster completion timeline, ensuring the borrower met their repayment obligations.
CLARITY AND CONTROL
Paul Agnew, broker at London Property Finance, says: “I was really impressed with CHL Mortgages’ ability to take a complex, time-sensitive portfolio refinance and keep it moving with clarity and control. Shannon supported me from start to finish and kept me updated throughout.
“Even when the case evolved and exposure limits shifted, the team didn’t miss a beat, finding practical solutions, reissuing offers and ensuring the bridging loan was repaid on time. Their expertise in portfolio and specialist lending genuinely shone through and gave me and my client real confidence at every stage.”
SPECIALIST SOLUTION
Roger Morris (main picture), group distribution director at Chetwood Bank for CHL Mortgages and ModaMortgages, adds: “This case is a fantastic example of how CHL Mortgages can provide a specialist solution, no matter how large or complex a case.
“By assigning a dedicated underwriter and working closely with the broker, we were able to structure the lending creatively, manage exposure carefully and deliver the refinance within a tight timeframe.
“I’m really proud of the team for finding a way to make the deal happen – it’s a great example of our commitment to doing all we can to help brokers place their complex cases in a speedy manner.”
