Hampshire Trust Bank (HTB) has completed a £12.8m refinance to move a development finance loan into its specialist mortgages portfolio.

The deal involved 65 rental units in Bournemouth and saw HTB refinance £12.25m while providing an additional £550k to fund the next stage of the project.

The arrangement consolidated costs into a structure where rental income serviced the debt and unlocked surplus funds for further development.

“we initially assisted with the property’s acquisition, followed by its development, and now we’ve provided a longer-term investment facility”

Hayden McMullen, head of internal refinance at HTB, said: “This success story demonstrates HTB’s ability to provide brokers and borrowers with tailored support at every stage of the property journey. In this case, we initially assisted with the property’s acquisition, followed by its development, and now we’ve provided a longer-term investment facility with surplus funds to help progress the borrower’s next project.

“The strong relationship built up over time allowed us to act decisively and deliver a tailored solution that met the requirements of the deal. A pragmatic legal process was key to this success. Working with our trusted panel lawyer, we avoided the need for a costly title solvency policy, reducing expenses and streamlining the process.

“By simplifying the legal process and collaborating effectively, we completed the refinance within four working days of credit approval—highlighting HTB’s ability to deliver tailored, timely results that empower brokers and borrowers to achieve long-term growth.”

Alex Upton, managing director, specialist mortgages & bridging, added: “This refinance exemplifies HTB’s expertise in delivering flexible, bespoke solutions that evolve with the needs of brokers and borrowers, supporting them at every stage of their property journey.

“What sets this deal apart is the seamless collaboration across our specialist mortgages and development finance teams. By proactively structuring a solution that allowed surplus funds to be unlocked, the borrower was able to plan their next steps with confidence and clarity.

“Hayden and his team were instrumental in making this happen. Their ability to manage transitions between products with speed and precision demonstrates the strength of HTB’s offering. Completing this refinance in just four days shows the agility and expertise brokers and their clients can count on when working with HTB.”