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  • Mortgages & Finance

    Financing portfolio growth - Shawbrook Bank

    Welcome to Day 2 of themed content here on Property Tribes where we are delighted to present a week of video content shining the spotlight on the world of portfolio landlords.

    The week came about because we believe that the gap is widening between small landlords (3 or less properties) and portfolio landlords (4 or more properties) in many areas including tax, finance, and mindset.

    Property Tribes will be presenting a week of content exploring these issues, powered by Less Tax for Landlords.

    This is how the week is shaping up:

    Monday - Launch of "Portfolio Landlords Week" with Tony Gimple of Less Tax for Landlords and we meet Robert, a portfolio landlord based on the south coast to hear about his property journey.

    Today - Finance for portfolio landlords with Shawbrook Bank and Property Tribes Financial Services. (Video in footer).

    Wednesday - Insurance for portfolio landlords with Alan Boswell Group and we meet a husband/wife portfolio landlord team.

    Thursday - Tax for portfolio landlords with Tony Gimple of Less Tax for Landlords and we feature Tony's presentation from the Spring Property Investor Show.

    Friday - Portfolio landlord with four decades of experience, John Howard, shares his tips and we meet Chris, a portfolio landlord based in St. Albans.

    Today we hear from Gavin Seaholme of Shawbrook Bank on the differences for portfolio landlords when it comes to finance:

    Property Tribes would like to thank Less Tax for Landlords for powering this week of content. 

    A reminder that it is thanks to the support of our partners and sponsors that Property Tribes remains as a free-to-use community resource.

    In the footer, you will find an interview with Howard Reuben of Property Tribes Financial Services giving a broker's view on financing and growing portfolio.  For all your financing needs, including access to Shawbrook Bank products, contact the broker team at PTFS on 01206 654444.

    Tune in all this week to look at property life through a portfolio landlord lens - "Portfolio Landlords Week" here on Property Tribes!  

    SEE ALSO  -          Understanding the impact of PRA on landlords

    UP NEXT -              Growing a property portfolio - resources

    DON'T MISS -         PRA will make S24 look like walk in the park



    Shawbrook fund £11.5m permitted development bridge

    The specialist lender’s short term team and broker worked seamlessly to deliver this bridge in 6 weeks

    Shawbrook’s Commercial Mortgages team was approached by Broker Partner, West Rock Capital, and a long-established client who specialises in permitted developments. The client was looking for a 24-month bridging loan to purchase a commercial premises on Milton Keynes train station.

    Worth £16m, the client required a £11.5m facility for the acquisition of this unusual property with the aim to sell in 18 to 24 months and with the potential of redeveloping into residential units. There were a few hurdles to navigate with this bridge, including the key risk that the premises is located on a train station. However, the valuer saw no issue with the purchase or potential planning issues regarding converting into residential units so the team proceeded with the application.

    Using Shawbrook’s STL3 product, providing the ability to service the interest, the short term team were able to fund this purchase at 70% LTV across a 24 month term, allowing additional time in case of any refurbishment or planning delays. Shawbrook’s BDM and underwriting team worked seamlessly with the broker and the case completed in 6 weeks.

    Westley Richards, Director at West Rock Capital, comments on the case:

    “I am delighted to have successfully enabled our client to secure this exciting opportunity. Our extensive experience in property finance and long-term relationship with Shawbrook ensured our client was able to complete this complicated acquisition on time. This was a great team effort with Shawbrook and I am looking forward to working on more opportunities going forward.”

    Shrena Patel, Business Development Manager at Shawbrook added:

    “There were some hurdles and moving parts that we had to overcome on our way to completing in the deal. However, both West Rock Capital and our sales and underwriting teams worked brilliantly together to ensure that we provided a solution for the client so that their purchase could go ahead as scheduled".