Secure Trust Bank (STB) Real Estate Finance has provided a £2m residential property investment loan to refinance a multi-unit freehold block (MUFB) of 15 flats in Edinburgh.
Drawdown of the five-year facility occurred just three months on from the initial enquiry. The deal was completed by Mike Feasey, Relationship Director at STB Real Estate Finance, with the assistance of Relationship Support Specialists Keith Fletcher and Julie Percy.
Mike said: "It's great to see this deal cross the line without any complications or challenges. The professionalism and experience of those involved played a major part in ensuring the facility was executed within the prescribed timeframe."
STB's residential property investment loans enable eligible investors, funds or landlords that meet given criteria to acquire or refinance assets. The bank offers tailored short- and mid-term facilities suitable for various properties, including private rentals, houses, apartments, and houses in multiple occupation (HMOs).
This is the second Edinburgh-based deal the bank has completed in the past two months, following a £13.7m property development loan issued to Edmond de Rothschild Real Estate Investment Management (REIM) to fund Stead's Place, a build-to-rent development of 110 one-, two-, and three-bed apartments.
The deal was supported by solicitors Clyde & Co and valuers Graham & Sibbald.
Visit the Secure Trust Bank Real Estate Finance website for more information on the property finance methods available, or its dedicated residential property investment area.