When an experienced developer needed to refinance a recently completed semi-commercial conversion, Merryoaks stepped in to structure the deal, manage the lender introduction and navigate multiple layers of legal and financial complexity, all within a tight timeframe.
The challenge
Our client, an established developer and portfolio landlord with assets exceeding £10m, needed £770,000 to repay an investor. The security was a Grade II listed building in Hereford, newly converted into 10 residential flats and one commercial unit.
The project involved many complicating factors:
- Title splits between the commercial and residential elements
- Intercompany lending as part of the funding structure
- Listed building constraints affecting valuation and legal work
- The need for a quick turnaround to meet repayment deadlines
Finding a lender comfortable with these nuances needed experience, precision and strong relationships.
Our approach
Drawing on our lender network, Merryoaks introduced a specilist lender, who are known for it's flexibility with complex structures and semi-commercial assets. We worked closely with their underwriting and legal teams to ensure every layer of the deal, from valuation to title review, progressed smoothly.
By coordinating between the developer, solicitors and lender, we kept the process on track despite tight timelines. The facility totalled £798,000 and completed on a 10 year interest only term (fixed at 6.49%), followed by a 20 year capital and interest period, giving the borrower long term stability.
The property’s strong EPC rating also qualified for a Green Cashback Reward, adding value for the client on completion.
The results
Despite the deal’s complexity, completion was achieved efficiently as a result of clear communication and collaboration between all parties.
“This deal was a fantastic example of what can be achieved when everyone pulls in the same direction,” said George Melling, Head of Bridging & Commercial at Merryoaks. “The lenders willingness to understand the client’s structure, their pragmatic approach, and their speed of execution made all the difference. It’s been a real pleasure working with a team that genuinely values relationships and results.”
If you’re working on a challenging project and need a lender who understands your structure, let’s talk.
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