Following its recently revamped commercial investment mortgage offering, Shawbrook Bank has helped an existing client complete a £1.94m commercial refinance and capital raise on two properties.

This limited company application involved a multiple property portfolio refinance to release equity and finance future growth plans. The process was made slightly more complex given the mixed-use nature of the portfolio comprising residential assets and a semi-commercial property; however the complex commercial team felt comfortable enough with the strong covenant offered by the commercial tenant to offer a blended residential/commercial margin.

It provided an Indicative Mortgage Offer (IMO) being issued within five days on the 14 May.

The BDM, broker and underwriting team combined to allow the full pack to come in swiftly and a Full Mortgage Offer to be sent to the customers on 30 May. The case progressed to completion seven days later.

Dan Newbery, director of Bond Finance, said: “Shawbrook’s complex commercial team were comfortable with this case and offered a blended margin which, when fixed for five years, matched the leverage requirements of my client.

“As this was a refinance, the client took advantage of Shawbrook’s unique non-represented legal service and the case completed in under a month. All in all, an impressive start to Shawbrook’s new complex commercial property offering and one I am delighted to see in action once again.”

Rob Lankey, Shawbrook commercial investment director, added: “We have invested a great deal of time and resource into the team at this end in order to build a really compelling offering in the commercial investment space.

“Working with brokers the calibre of Bond Finance is critical in these more complex cases and I’m delighted to have been able to support with the refinance and capital raise requirements of this investor.

“The Shawbrook team dealt with the case by applying their specialist expertise flexibly and practically, ensuring that the client’s loan request was met efficiently and that their expectations were managed at every stage. Reaching this kind of harmony across a case is what we are striving to achieve.

“With opportunity for investors to diversify their portfolios as highlighted in our recent commercial market report, I am pleased to demonstrate that our teams and our products are up to the challenge.”