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ERG Private Finance Ltd - trading as ERG Finance is an Appointed Representative of New Leaf Distribution Ltd which is authorised and regulated by the Financial Conduct Authority: FCA Number 460421. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Buy to Let mortgages and Commercial Lending are not usually regulated by the Financial Conduct Authority.

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

Updated: Jul 8


Manchester City Centre - Specialist Mortgage

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.

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