LHV Bank has completed two specialist buy-to-let transactions totalling about £22 million to support the acquisition of two SPV companies holding 253 residential properties.
The portfolios comprise a mix of single-let freehold houses and HMOs, with all properties leased to a recognised social housing operator on long-term agreements.
The transactions required due diligence across all 253 properties, as well as legal and corporate scrutiny, including the negotiation and agreement of Share Purchase Agreements.
LHV Bank provided two specialist interest-only buy-to-let facilities on five-year terms to support the acquisitions.
Both deals completed ahead of the borrower’s year-end deadline, following collaboration between LHV Bank’s lending, legal and operational teams, Karis Capital UK, valuers Allsop and solicitors SC&W.
Christian Artemiadis and Fodi Christodoulou at Karis Capital UK, the specialist real estate debt advisory firm, supported the transaction.
LHV Bank, a fully licensed UK bank, provides banking services for global fintechs, SME lending solutions for UK businesses and personal savings through partnerships with deposit aggregators.
The bank said more than 200 fintech companies use LHV Bank to serve more than 10 million end customers and access a pool of 500 million potential customers across the UK and Europe.
George Chipperfield (pictured), lending director at LHV Bank, said: “Transactions of this scale are rarely straightforward, particularly where you are combining large portfolio underwriting with corporate acquisitions and fixed completion deadlines. What made this case work was the willingness of everybody involved to remain commercially focused throughout the process.
“There was a significant amount of due diligence required across both the properties and the SPV structures, but the underlying quality of the portfolio and the long-term tenancy arrangements gave us confidence in the overall proposition.
“Cases like this also highlight the importance of having lending, legal and operational teams working closely together from the outset, because timing and coordination become just as important as the funding itself when you are dealing with 253 properties across concurrent transactions.”
Christian Artemiadis, director at Karis Capital UK, added: “This was a highly involved transaction with multiple moving parts, tight timelines and a significant level of coordination required across all parties.
“What stood out with LHV Bank was the consistency of communication and their willingness to remain solutions-focused throughout the process. George Chipperfield, Emma Wright and the wider team at LHV understood the commercial objectives from the outset and worked collaboratively to help both transactions complete before the year-end deadline.”
