A property investor has refinanced a 54-unit portfolio spanning residential, commercial and semi-commercial assets, consolidating borrowing from five separate lenders into one arrangement with Together, facilitated by broker Truffle Specialist Finance.
The portfolio comprised houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), which had accumulated a complex borrowing structure as the holdings expanded over time. The investor sought to streamline the lending arrangements whilst releasing equity for additional acquisitions.
Three-facility structure
Together structured the refinance across three separate facilities to accommodate different asset types and ownership structures. The residential portfolio was financed under an individual name, whilst residential and commercial elements were handled under a company structure with the individual as a stakeholder. The arrangement appears to the client as a single monthly payment.
Ben Eckersley, senior corporate underwriter at Together, said: “This was a complex transaction involving multiple asset classes, ownership structures and existing lender relationships. Structuring the refinance across three facilities enabled us to take a pragmatic approach while ensuring the solution met the customer’s objectives.”
Alex Kinsey, specialist finance adviser at Truffle, noted the administrative challenges of managing diverse property holdings. “This is great for diversification but can quickly become an administrative nightmare, balancing different lender criteria, rates, payment dates and end terms,” he said.
Regulatory context
The legal stage was completed within three weeks. The refinance released equity from the portfolio for future investment whilst replacing five lending relationships with the three-facility structure.
Ryan Etchells, chief commercial officer at Together, said consolidation is becoming more common as portfolios grow. “We’re also seeing landlords take stock of their portfolios as regulation continues to evolve, including the introduction of the Renters’ Rights Act. For some, that means reviewing existing funding arrangements to ensure they’re fit for purpose and aligned to their long-term plans.”
The transaction reflects broader trends in the buy-to-let sector, where investors are reassessing their funding structures amid changing regulatory requirements and market conditions. Portfolio consolidation can simplify management whilst potentially improving cash flow through standardised payment schedules.
The case demonstrates how specialist lenders are adapting their products to accommodate complex portfolio structures, particularly as individual landlords expand holdings across multiple property types and ownership vehicles.
