An experienced buy to let mortgage specialist has completed on its largest and most complex loan to date — a £17.35m five-year buy to let facility for PTL Estates.
The Octone Mortgages loan, made at 4.99 per cent with 1.0 per cent interest deferred, required highly complex underwriting as it involved the refinance of no fewer than 40 properties across London, comprising over 160 units. Some of them suffered planning irregularities.
Octane says its legal due diligence process included using title indemnity insurance on a proportion of the portfolio and no searches on most of the other properties owned by the client.
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