A landlord with a 54-unit portfolio spanning commercial, semi-commercial and residential property has consolidated their borrowing from five lenders down to one, in a portfolio refinance arranged by Truffle Specialist Finance and Together.
The portfolio included HMOs and multi-unit freehold blocks (MUFBs), and had built up a complex borrowing structure over time as the investor's holdings grew. The client approached Truffle Specialist Finance to help bring the lending under a single roof, while also looking to release equity to fund further acquisitions.
The refinance involved multiple asset types and ownership structures, so a bespoke approach was needed. The task was not just consolidating the portfolio under one lender, but doing so in a way that fit the client's broader investment plans.
Together structured the deal across three separate facilities. This allowed the residential portfolio to be financed under an individual name, with the residential and commercial elements handled under a company structure in which the individual was a stakeholder. The client sees the arrangement as a single monthly payment, despite the underlying structure.
"This was a complex transaction involving multiple asset classes, ownership structures and existing lender relationships." said Ben Eckersley, senior corporate underwriter at Together. "Structuring the refinance across three facilities enabled us to take a pragmatic approach while ensuring the solution met the customer's objectives.
"By working closely with Truffle Specialist Finance, we were able to consolidate the portfolio efficiently and provide the customer with a much simpler funding structure moving forward."
Alex Kinsey, specialist finance advisor at Truffle, described the portfolio's mix of property types as both a benefit and a challenge. "Our client's portfolio was relatively varied across a range of different property types." he said. "This is great for diversification but can quickly become an administrative nightmare, balancing different lender criteria, rates, payment dates and end terms.
"We knew that Together had the product set and appetite to help consolidate the whole portfolio into a more manageable structure."
The refinance brought all 54 units under Together, replacing the five previous lending relationships with the three-facility structure. It also released equity from the portfolio for future investment. The legal stage was completed within three weeks despite the scale of the transaction.
Ryan Etchells, chief commercial officer at Together, pointed to the broader pattern behind the deal. "As portfolios grow, it's not unusual for landlords to find themselves managing relationships with several different lenders." he said. "Consolidating borrowing can simplify portfolio management and, in some cases, help unlock equity for future investment and improvements.
"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.
"This case is a great example of how specialist lenders and brokers can work together to support customers with complex requirements and deliver a structure that meets both their immediate and future objectives."
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