Signature Property Finance has completed a £225,000 revolving credit facility to help an experienced landlord fund new acquisitions and undertake refurbishments as part of a well-established buy, refurbish, rent, refinance, repeat (BRRR) strategy.
The deal was introduced by Olivia Dixon of Rangewell, a long-standing contact of Bob Stones, Signature’s Business Development Manager for the north of England. Despite a highly competitive market, this deal was secured thanks to Signature’s flexible product structure and Rangewell’s reputation as a full-market broker.
A funding line that supports momentum
The client required a reliable source of funding to act quickly on future residential investment opportunities, typically buying properties at auction. Rather than a traditional term loan, a revolving credit facility (RCF) was agreed, which gives the borrower the ability to draw, repay, and redraw funds as required.
This structure provides the flexibility needed for ambitious property developers to operate at speed in today’s fluctuating market, particularly for investors focused on adding value through refurbishment before refinancing.
The facility is secured against a residential investment property currently owned outright by the borrowing company and currently let under an Assured Shorthold Tenancy. The initial draw will be used to support the purchase of new assets, which will then be refurbished and refinanced, releasing funds to repeat the process.
Bob Stones, Relationship Manager at Signature Property Finance, commented: “This was a great opportunity to support an experienced investor with a proven business model. The client knows his market, moves quickly and has built a solid portfolio on the back of sound judgment and hard work.
“The flexibility of Signature’s revolving credit facility, a niche product currently offered by only a few lenders, allows him to act decisively when the right property comes up – whether it’s at auction, off-market, or just a great value find.
It’s also been a pleasure working with Olivia at Rangewell. We’ve known each other for a long time and it’s gratifying to have the right product at the right time to enable us to support their client. Her knowledge of the market and ability to spot opportunities was key to getting this over the line.”
Rangewell’s Olivia Dixon said: “Signature are renowned for their certainty of funding on property finance deals and their revolving credit facility is perhaps the perfect embodiment of funding you can rely on, as our client now controls the process.
“It was good to get this deal over the line with Bob and the Signature team making it a simple process, with the in-house legals an added bonus when speed is a deciding factor. I look forward to delivering similar solutions to our clients as they pursue their portfolio expansion ambitions.”
A platform for future deals
With this new facility in place, the developer can now move quickly on new acquisitions, confident that the necessary funding is already in place. As each new property is acquired and improved, it will be refinanced onto long-term BTL finance, allowing funds to be recycled within the Signature facility.
This flexible, repeatable structure supports the borrower’s long-term goals and provides Signature with a high-quality client relationship, with further potential for growth. The facility was delivered on time, on budget and the clear communication between borrower, broker and lender throughout, demonstrated the kind of collaboration Signature values most.