Shawbrook has helped a professional property investor by orchestrating the refinance of their extensive portfolio comprising of 11 single dwelling houses.
The refinance included a capital raise of £150,000, allowing the professional landlord to redeem an existing variable rate facility before transitioning to a five-year fixed term buy-to-let mortgage with Shawbrook at 75% LTV. By switching from a variable to fixed rate also meant that the client saved money on their monthly repayments.
The broker submitted the application via MyShawbrook to speed the case up. An instant Indicative Mortgage Offer (IMO) with an AVM was issued on 8 June, followed by the Full Mortgage Offer (FMO) supplied on 16 June. The case completed and the funds were released on 30 June.
The capital raise was to renovate some of the properties within the portfolio with energy efficiency upgrades. The portfolio landlord was able to access a partial discount on his arrangement fee for over a third of his properties as part of the specialist lender’s Buy-to-Let Energy Efficiency Discount, saving nearly £650. The discount applies to all properties with an Energy Performance Certificate (EPC) rating of ‘C’ or above, and therefore rewarded this landlord for his energy efficiency upgrades.
Gareth Butler, senior commercial manager from Watts Commercial Finance, said: “This case highlights Shawbrook’s status as an excellent partner for professional property investors seeking reliable funding solutions. Leveraging the perfect balance of technology and expertise within the team, nurtured by Lee Albino, saw Shawbrook successfully complete this deal. It was a great outcome for the client who can now proceed with the plans to enhance his portfolio.”
Lee Albino, regional development manager at Shawbrook, added: “We’re delighted that we were able to support one of our Strategic Partners, Watts Commercial, with this refinance case for their portfolio client. Our innovative systems and products are designed with professional investors in mind, and working in partnership with a key broker meant we could deliver a fantastic outcome for this client.”
