InterBay Commercial, part of specialist mortgage provider and retail savings group OneSavings Bank, was approached by Vantage Finance on behalf of a client seeking refinance of a block of flats and capital raising to repay existing development finance totalling just under £16m.
The commercial development, located in London, was originally for 160 units, but with 116 units already sold to owner occupiers and investors, the client was seeking to secure buy to let funding on the remaining 44 units.
The lender highlighted that “timing was an integral factor” to the completion of this deal, with the InterBay team able to move the case from the initial client meeting to completion in less than 6 weeks.
Commenting, InterBay Commercial head of sales Darrell Walker said: “This case is testament to everyone involved from InterBay to Vantage who pulled out the stops to achieve a positive customer outcome. At InterBay we have a vast amount of knowledge and experience in every single department which means we can very quickly unravel a complex case to get it over the line. Working with Vantage is always a really positive experience and we are looking forward to our continued successful partnership.”
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