Recognise Bank has completed a £4.14m bridging loan to refinance a three-property residential portfolio spanning Twickenham and Surrey.
The 10-month facility, agreed at 75% loan-to-value, was arranged for an experienced residential investor and developer.
The loan was introduced by Matthew Archer of Tapton Capital and secured against three residential properties, including two high-value assets in Twickenham.
The transaction enabled the borrower to refinance multiple existing facilities within a defined timeframe.
Three separate loans required redemption simultaneously in order for the refinance to proceed, adding a layer of coordination to what was otherwise described as a straightforward structure.
The bridging facility provided short-term funding flexibility, allowing the borrower time to execute a planned sale of the underlying assets as part of their wider strategy.
MULTIPLE REDEMPTIONS AND OVERSEAS BORROWER
While the lending parameters were conventional for a portfolio refinance, the case required careful management.
The security comprised three residential assets, and redemptions had to be coordinated across different incumbent lenders.
Timing was a central consideration throughout. The borrower was based overseas during the approval and completion process, requiring close coordination between broker, lender and legal advisers to manage documentation, communication and independent legal advice across time zones.
Completion allowed the borrower to redeem the existing facilities and move into the next phase of their disposal strategy.
Richard Winston, lending manager at Recognise Bank, says: “This was a refinance that required careful coordination due to the number of assets involved and the need to redeem multiple facilities at the same time.
“By working closely with the broker and maintaining clear oversight of the detail throughout the process, we were able to complete the transaction within the required timeframe to support the borrower’s timeline .
“This deal reflects our continued focus on providing pragmatic short-term property finance solutions for experienced investors, delivered through close collaboration with brokers and professional advisers.”
Matthew Archer, broker at Tapton Capital, adds: “This was a complex multi-asset refinance with real time pressure. The borrower was close to expiry on their existing facility, so we had to keep the incumbent lender fully engaged while pushing the deal forward.
“We worked to a tight deadline, fast tracked valuations and moved straight into legals, all while the borrower was overseas. It was not straightforward, but everyone pulled together to get it done.
“A big thank you to the legal teams for their hard work, and especially to Richard at Recognise Bank for his steady support and clear approach throughout.”
