Specialist lender Rely has completed a £2.4 million multi-unit freehold block (MUFB) remortgage for a portfolio landlord in Northumberland, secured against a 55-unit residential property valued at £3.2 million.
The transaction involved refinancing a fully refurbished residential block held on a single freehold title. The borrower, described as an experienced portfolio landlord with existing relationships across OSB Group brands, sought to refinance the asset following completion of refurbishment works.
Broker involvement and process
Pure Funding Solutions introduced the case, with director Adam Lane working with Rely’s business development manager Nathan Chand to assess the lender’s capacity for larger MUFB transactions. Initial discussions covered criteria requirements, valuation methodology and operational processes for cases of this scale.
The application progressed with limited additional documentation requests following submission. Lane noted that Rely’s lending platform reduced manual input requirements during the process. The transaction comes as landlords increasingly turn to refinancing strategies to manage and grow their property holdings.
Market context
Jon Hall, chief commercial officer at Rely, stated that larger MUFB cases present additional complexity requiring clarity on criteria and valuation approaches from the outset. The lender’s platform was designed to streamline submission and progression for cases of this size.
The Northumberland transaction reflects activity in the regional buy-to-let market, where portfolio landlords continue to refinance assets. Multi-unit freehold blocks represent a specific segment of the market, typically requiring specialist lending arrangements due to their structure and valuation requirements.
The completion adds to evidence of ongoing refinancing activity in the buy-to-let sector, despite broader affordability pressures affecting the residential market. Portfolio landlords with multiple properties continue to access finance for refinancing and expansion purposes, according to recent industry data.
