The complex transition required multidisciplinary expertise
InterBay, a specialist lender under the OSB Group, has completed a £42.5 million refinancing deal involving 94 units spread across 17 limited companies.
The financing covered a mix of semi-commercial and buy-to-let properties, consolidating them into a single portfolio with InterBay and raising additional capital for further investment.
The transaction involved multiple complexities, including the requirement to complete all elements on the same day. A multidisciplinary team, including InterBay’s in-house underwriters, sales, completions teams, and external legal advisers from Paris Smith, managed the deal.
“This complex deal really highlights the expertise we have at InterBay in structuring bespoke portfolio finance,” said Adrian Moloney (pictured), group intermediary director at OSB Group. “Having collaborated with REF Capital on a number of previous cases, Andrew and his team had assurance right from the start that we would be able to deliver.
“InterBay’s specialist finance account manager, Mo Parmar, and the team at REF Capital worked closely to reach a tailored solution with bespoke structure, fees, valuation, legals and timings. Using title insurance helped speed up the legal process, leading to a smooth and quick completion process.”
Andrew Drummond, director at REF Capital said: “This case had a number of challenges, which I’m not convinced other lenders would have the expertise to manage. Not only did we complete on time but the level of service throughout the process was also exceptional.
“Mo and the specialist team really went the extra mile, resulting in a very satisfied client. InterBay’s ability to reconcile large portfolios into one application made such a difference.”
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