£16 million re-finance of a student accommodation property portfolio with our low start commercial mortgage
Our clients, experienced operators of student accommodation, wanted to increase their gearing whilst maximising their net cash flows. Through the use of a swaption, we were able to arrange a low start commercial mortgages facility with fixed interest of 4.75% for the first 7 years (including lender’s margin) with a rate increase to 5.65% by year 8. The low start mortgage rate was achieved by accepting a lender-only break option at year 7.
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