Rely completes £2.4m MUFB remortgage for portfolio landlord

Rely has completed a £2.4m MUFB remortgage for an experienced portfolio landlord, secured against a fully refurbished multi-unit freehold block in Northumberland.

The transaction involved a 55-unit residential block held on a single freehold, with a market value of £3.2m. The client, a long-standing borrower across OSB Group brands, needed to refinance the asset following refurbishment.

Pure Funding Solutions introduced the case, with broker Adam Lane working closely with Rely's business development manager, Nathan Chand, to explore the lender's appetite for larger MUFB cases early in the process. Initial discussions focused on criteria, valuation approach and operational requirements, alongside how Rely's new lending platform could support the submission and progression of a case of this size.

Following submission, the application progressed with minimal additional requirements, and broker and lender maintained regular communication while awaiting valuation. The streamlined process reduced the level of manual input needed from the broker and gave clarity on progress at each stage of the transaction.

"This was a strong example of how early conversations between broker and lender can help shape the right outcome for the client," said Jon Hall, chief commercial officer at Rely (pictured).

"Larger MUFBs can bring added complexity, so clarity around criteria, valuation and process is important from the outset. Working closely with the broker, we were able to keep the case moving and provide the support needed to complete the remortgage."

"From the outset, it was clear Rely had the appetite to support a deal of this size," said Adam Lane, director at Pure Funding Solutions.

"The new lending platform did a lot of the heavy lifting from our side, which made the process feel straightforward, and the level of communication throughout meant we always knew where things stood, which made a real difference in delivering for our client."