"We have the ability to value complex, high-value properties, and also assess applications from prospective borrowers who might have non-traditional financial profiles, as this case exemplifies"
- Alpa Bhakta - Butterfield Mortgages Limited
Butterfield Mortgages Limited has announced that it has provided over £20m in advanced funds to refinance and enhance a prime central London property portfolio. The loan was structured for a client looking to purchase a property through a trust structure. The trust holds a variety of property assets, both directly and through multi-jurisdictional offshore companies.
The prime property assets required renovations and improvements to achieve acceptable market returns, and some had short leases. With a more complex income profile within the portfolio structure, the client’s broker recognised the need for specialist support to secure financing.
To address these challenges, BML advanced funds to refinance the existing lender and provided additional capital for future use, enabling the client to extend the leases and complete the necessary improvements. The mortgage terms included capitalised interest fixed for the duration of the loan period to accommodate the borrower’s limited income.
Following appropriate enhanced due diligence, BML issued advanced funds of over £20m at a loan-to-value ratio of 64%.
“Complex property portfolios, such as those held in trusts with multi-jurisdictional assets, often present unique financing challenges due to their structure and income profile," explained Alpa Bhakta (pictured), CEO of Butterfield Mortgages Limited, adding "This is particularly true in the Prime Central London market, where high-value properties require specialist expertise to assess and structure tailored financial solutions.
“We have the ability to value complex, high-value properties, and also assess applications from prospective borrowers who might have non-traditional financial profiles, as this case exemplifies. By offering bespoke lending solutions, we were able to help this client refinance and fund important improvements, and we were delighted to strengthen our relationship with the broker who brought the case to us,” she concluded.
