AFG arranges £1.44 million funding package for Scottish property portfolio
Approved Finance Group has arranged a coordinated funding package totalling £1,446,440 to support the purchase and refurbishment of a 20-property mixed-use portfolio in Scotland.
Working together, Rex and Nathan brought property and business finance expertise into one funding strategy, helping the client secure improved terms and fund the next stage of their investment plans.
The requirement
The client approached AFG with terms already offered through an existing broker for the portfolio purchase.
Alongside funding the acquisition, the client needed capital to refurbish the properties before moving onto long-term mortgages. Our team therefore considered the purchase and planned improvements together, looking at how the funding could support the project
from acquisition through to refinance.
Our approach
Rex and Nathan worked together to structure a package combining a £1,246,440 gross bridging facility with £200,000 in unsecured refurbishment funding.
The bridging finance, arranged through Hampshire Trust Bank over a 12-month term, was secured against the 20 properties being purchased. Rex secured increased leverage against the portfolio, improving on the terms the client had previously received.
Alongside this, Nathan arranged the unsecured funding needed to carry out refurbishment works across the portfolio.
By coordinating both elements, the team delivered a funding solution aligned with the client’s immediate purchase requirements and longer-term investment strategy.
The outcome
The funding package enabled the client to move forward with the portfolio purchase and planned refurbishment works.
Once the improvements are complete, the client intends to refinance onto long-term mortgages, with the aim of releasing additional equity, subject to valuations and lender criteria at the time.
The case demonstrates how AFG’s property and business finance teams can work together to address different requirements within one coordinated project.
Property Finance Broker - Rex Dunn comments:
“Our priority was to understand the client’s plans for the whole portfolio and structure the bridging finance around both the purchase and their intended refinance. By securing increased leverage against the properties, we were able to improve on the terms they had already received and help them move forward with the acquisition.”
Finance Broker - Nathan Littlefield also comments:
“The refurbishment funding was an important part of the wider strategy. Working closely with Rex meant we could coordinate this alongside the purchase funding, giving the client the capital needed to improve the properties ahead of their planned move onto long-term mortgages.”
Discuss your property funding plans
Whether you’re purchasing a portfolio, planning refurbishment works or reviewing an existing funding proposal, Approved Finance Group can help you explore the available options.
Speak to our team on 01908 429888 to discuss your requirements.
