InterBay completes £30m facility for SPF client
InterBay Commercial, part of OSB Group, has completed a £30m facility secured against more than 400 properties in central and northern England, in conjunction with SPF Private Clients.
The facility was provided by InterBay for one of SPF Private Clients’ retained clients, seeking to refinance and raise capital on their total portfolio.
The portfolio included a variety of residential investment property types, including flats, houses, houses in multiple occupation (HMOs) and small and large blocks of flats, with solicitors brought into the process from an early stage to ensure the client’s requirements could be met due to the complex company structure.
Adrian Moloney (pictured), group sales director at OSB Group, said: “This was an extremely complicated loan but one InterBay Commercial was able to accommodate due to the team’s in-depth technical expertise and knowledge.
“Communication was key and everyone involved worked together to satisfy the requirements of the mortgage offer and to complete the loan and release the capital requested within the client’s timeline.
“It’s a great example of the strong relationship and trust that InterBay Commercial has built up with SPF Private Clients and further illustrates the expertise and innovation that InterBay brings to multifaceted deals.”
Derek Simpson, director at SPF Private Clients Debt Advisory, added: “InterBay Commercial have provided a tailored solution to a very complex funding requirement and considerable work has been undertaken by all parties to deliver an outcome the client is delighted with in record time.”