Refinance of Prime Multi-Unit Freehold Block, Manchester City Centre

The Scenario

ERG Finance was instructed to refinance a striking 31-unit apartment block in the heart of Manchester City Centre, originally developed by the client in 2019.

Now fully let and producing rental income of approximately £500,000 per annum, the building has reached a valuation of £8 million. Our client was seeking to extract capital from the asset in order to fund the purchase of a new property overseas, while maintaining strong gearing and portfolio growth.

The Challenge

The client was looking to refinance at up to 70% loan-to-value, seeking a lender who could offer maximum leverage and move quickly.

With a long-standing relationship spanning over 10 years, we had a strong understanding of the client’s portfolio and strategy. The priority was to secure a lender familiar with multi-unit freehold blocks (MUFBs), who could underwrite based on rental yield and portfolio strength, rather than rigid income multiples or personal affordability.

The Solution

ERG Finance sourced a specialist MUFB mortgage at an extremely competitive rate, reflecting the asset quality, proven rental performance, and the client’s experience.

The key outcomes:

Loan secured at 70% LTV against an £8 million valuation

Excellent rate of interest based on income sustainability

Completion achieved in under 6 weeks, allowing timely access to capital for the overseas purchase

This solution provided liquidity while maintaining long-term flexibility, and once again demonstrated the power of strong structuring and trusted client relationships.

Conclusion

ERG Finance delivered a high-leverage, time-sensitive refinance on a substantial Manchester asset - proving our ability to source specialist lending on complex residential blocks.

Our deep understanding of multi-unit investments and long-term portfolio strategies allowed us to secure the right terms, fast -unlocking equity to support the client’s next opportunity.

If you are looking to refinance a large portfolio or income-generating asset, we’d be happy to help.