InterBay, part of specialist lender OSB Group, has provided financing on a complex refinance deal totalling £42.5m.
The loan application was funding for a mixture of semi-commercial and buy-to-let assets, all to complete on one day and moved to a single portfolio with InterBay as well as raising additional capital for further investments.
The complexity of the case meant there were many moving parts, however, the multidisciplinary team approach, including InterBay’s in-house underwriters, sales and completions as well as the external legal team at Paris Smith, meant that the deal was very proactively managed with any potential challenges identified and resolved swifty.
Adrian Moloney, (pictured) Group Intermediary Director, OSB Group said: “This complex deal really highlights the expertise we have at InterBay in structuring bespoke portfolio finance. Having collaborated with REF Capital on a number of previous cases, Andrew and his team had assurance right from the start that we would be able to deliver.
“InterBay’s Specialist Finance Account Manager, Mo Parmar, and the team at REF Capital worked closely to reach a tailored solution with bespoke structure, fees, valuation, legals and timings. Using title insurance helped speed up the legal process, leading to a smooth and quick completion process.”
Andrew Drummond, Director, REF Capital said: “InterBay are without doubt the experts when it comes to complex specialist buy to let and commercial finance. Their ability to reconcile large portfolios into one application is an absolute game changer and made such a difference.
“This case had a number of challenges, which I’m not convinced other lenders would have the expertise to manage. Not only did we complete on time but the level of service throughout the process was also exceptional. Mo and the specialist team really went the extra mile, resulting in a very satisfied client.”
