Castle Trust Bank Completes £4.8m MUFB Refinance with Strategic Legal Approach
Castle Trust Bank recently completed a £4.8m refinance of a development finance loan by setting up a new Buy to Let TermTen facility for a 51-unit Multi-Unit Freehold Block (MUFB) in Dover. The deal, brokered by the team at Charleston Financial Services, was for a high-net-worth borrower using a Ltd Company SPV.
Key to the transaction’s efficiency was the use of Russell Cooke as dual rep solicitor, and the strategic application of Title Insurance, which helped streamline the legal process and reduce turnaround time. James Hardwick, Managing Director at Charleston said, “This was a complex deal, but Castle Trust Bank’s experience in dealing with SPV customers and the use of Russell Cooke in a dual rep capacity helped ensure the case completed quickly. Our client was particularly pleased with the outcome, which reflects well on both Castle Trust Bank and Charleston Financial Services.”
