Featured, Mortgage Guide
Client: An existing client, who is a professional portfolio landlord, approached us with a refinance required on numerous properties. Director Julian Ingall and Specialist Broker Matt Karagul worked together on this complex case, deciding that breaking the properties down into three groups, and structuring three separate finance facilities was the best route for the client.
Requirement: The properties held a total value of £15m, and the client required a loan £11m including almost £1m capital raising for further investment purposes. Julian and Matt approached Hampshire Trust Bank who were keen to get the ball rolling and find a way to facilitate these loans. However, issues arose when the rental affordability didn’t fit their standard stress test, which meant they had to use the client’s other incomes to boost this, as well as bespoke the product to allow for further borrowing. On top of this, we were asking HTB to reach 74% Loan to Value on high-value assets which has proven difficult with the majority of lenders over the last few years due to market conditions.
Facility: Hampshire Trust worked through all of the potential bumps in the road on this enquiry and thanks to the evidence provided by the client, and Julian and Matt’s understanding of the project being relayed to the bank readily, the deal was something the bank felt extremely comfortable with and were happy to press on. They then pulled out all the stops and thanks to great communication and an extremely efficient solicitor process via Glovers, which only took four and a half weeks post-offer, Hampshire Trust were able to complete the deal within a matter of just a few months from start to finish – an incredible testament to the relationships held by the bank, their solicitors and ourselves!
Julian is one of the mortgage industry’s true legends, following his passion through thick and thin to run our highly successful Specialist Finance division. Having always had an interest in property and initially part qualifying as an Architect, Julian decided to join the Financial Services industry in 1989, cutting his teeth at John Charcol in the early 1990’s. After opening their Guildford Office, Julian left to spend time assisting High Net Worth individuals with tax efficient investment schemes. In 2000 he jointly founded the boutique Mortgage Brokerage Cobalt Capital. As the managing partner of Cobalt Capital and at the centre of its growth, the company expanded to a peak of 90 staff and developed into one of the leading mortgage brokerages in London. With more than a growing interest in the specialist and commercial sectors of the mortgage market and a determination to obtain finance on the seemingly impossible, Julian decided to follow his passion and invest into Coreco, becoming a Director in 2010. His aim is to drive this business forward to become one of the strongest specialist finance teams in the industry, focusing on large residential loans for development/investment purposes and large property portfolios. Julian is also a proud member of the FIBA Executive Committee.
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