In a remarkable development, Hampshire Trust Bank (HTB) has successfully completed three deals with The Property Finance Collective (TPFC) amounting to £20 million in a mere three days.
- The deals comprised refinancing, a development loan, and a development exit bridging loan, showcasing the adaptability and efficiency of HTB and TPFC.
- These transactions highlight the strong partnership between HTB and TPFC, navigating complex challenges to deliver swift financial solutions.
- HTB demonstrated its commitment to tailored client needs by seamlessly transitioning financing types to accommodate evolving project requirements.
- The swift execution of these deals underscores HTB and TPFC’s prowess in the specialist finance sector.
Hampshire Trust Bank has accomplished a notable milestone by completing three distinct financial deals with The Property Finance Collective, collectively valued at approximately £20 million. These deals were finalised within an exceptionally short timeframe of three days, reflecting a concerted effort and efficient collaboration.
The transactions included a £6.075 million refinancing agreement for a development comprising 40 residential and one retail unit, an £11.9 million loan for the first development phase involving 49 units, and a £1.75 million development exit bridging loan aimed at transforming the upper floors of a property into seven apartments.
Throughout these complex financial dealings, HTB and TPFC encountered and surmounted several hurdles, including title and lease complications and legal delays. The collaborative approach led by Michael Primrose and Adam Powell from TPFC was instrumental in overcoming these barriers, ensuring that client needs were met precisely and effectively.
Mark Witherington of HTB expressed satisfaction with the collaboration, emphasizing the customised solutions developed to address unique borrower requirements. HTB’s adaptable approach allowed for shifts in financing strategies as projects evolved, such as transitioning from development lending to exit loans to facilitate ongoing construction and sales completion.
Additionally, Mark Newman highlighted the refinance project’s success, attributing it to the solidarity between HTB and TPFC. They managed to submit the deal and issue an offer in eight working days amidst a looming deadline, illustrating their capability to expedite processes while maintaining quality outcomes.
Michael Primrose praised the achievement as a significant benchmark for TPFC, underscoring the expertise and creativity required for executing deals of such magnitude and complexity. He acknowledged the comprehensive support from HTB as a critical factor in the success of these ventures, further solidifying TPFC’s position as a noteworthy broker.
This landmark series of transactions illustrates the exceptional collaboration and expertise within the specialist finance sector.
