"This refinancing package not only demonstrates our ability to execute complex deals but also showcases our dedication to forming enduring partnerships with market-leading investors and developers"
- Sadiq Patel - LHV Bank
The transaction involved refinancing a parade of shops located in a prominent Essex town, secured across multiple titles with more than 20 tenants and leases. The facility also refinanced a bridging loan, ensuring the client’s financial goals were met within a tight timeframe.
The clients, who manage and own a portfolio of assets worth £150m, sought a lender with a deep understanding of complex real estate transactions and the capability to execute swiftly. The introduction was facilitated by Fine Mortgages, presenting LHV Bank with an opportunity to work with a highly respected property investment group and establish a long-term relationship.
This transaction required LHV Bank to navigate and assess multiple cash flow scenarios across more than 20 leases while ensuring clarity on security positions across multiple titles. With tight deadlines, collaboration with internal departments, including credit, operations, and finance, was paramount to delivering the solution on time.
LHV Bank’s ability to deliver flexible and client-focused solutions was central to the success of this transaction. The bespoke funding package was tailored to meet the client’s specific needs, including a Commercial Real Estate Investment Loan structured over a 5-year term. The facility featured a 1-year interest-only period, amortised over 25 years, and was secured by a first legal charge across multiple titles and a company debenture, ensuring a robust and efficient financial arrangement.
The proactive approach of LHV Bank’s team and its legal advisor Lawrence Stephens ensured that the entire process was completed ahead of schedule, showcasing their commitment to exceptional execution. Key milestones included the first client meeting on 31 October, an initial credit discussion by 4 November, and full credit approval on 14 November. Originally targeted for completion on 29 November, the deal was finalised two days early, on 27 November, thanks to seamless collaboration between the bank and its panel solicitors, exceeding client expectations and reinforcing LHV’s reputation for delivering under tight deadlines.
Sadiq Patel (pictured), Lending Director at LHV Bank, explained: “This transaction exemplifies our ability to work on complex and multi-faceted real estate transactions. Despite the time-sensitive nature of the request, our team worked tirelessly to meet the client’s needs, ensuring a seamless experience from introduction to completion.
“We are proud to have delivered a solution that aligns with our client’s long-term vision. This refinancing package not only demonstrates our ability to execute complex deals but also showcases our dedication to forming enduring partnerships with market-leading investors and developers.”
Conor McDermott, Director of SME Lending at LHV, commented: “Sadiq and the team worked tirelessly with Fine Mortgages to complete this on challenging timescales, with the transaction completed within 8 working days of approval. Special thanks to the legal team at Lawrence Stephens led by Anna Christou, who worked on this over the weekend to ensure a successful refinance.”
