We provided a £4.176 million refinance on a former commercial office converted into 28 flats
Commercial BTL – MUFB: £4.1 million refinance supports further portfolio growth
An established Midlands property investor transformed a former commercial office into 28 new flats, bringing new homes to the local community.
"We are grateful for the continued trust they have placed in us and look forward to supporting their future growth plans."
How we supported our customer
The customer had owned the property since 2007, when it was originally let as commercial office space. After the parent company funded its conversion into 28 flats, completed in January 2026, the asset was transferred to the borrowing entity. We provided a £4.176 million refinance, releasing funds back to the parent company so the customer could continue investing and expanding their property portfolio.
We worked closely across our Business Development, Lending, Credit Underwriting, Customer Due Diligence and Completion teams to keep the transaction moving. Clear internal communication meant that issues could be addressed quickly, helping us complete the loan before the offer expired.
Our Midlands team also brought valuable local knowledge to the deal. We met the customer and broker and visited the site, building on an existing relationship established through an earlier transaction involving 24 flats in Birmingham. A Midlands-based solicitor who supported the earlier transaction brought further continuity and regional expertise.
The outcome
- £4.176 million released to repay the parent company
- Funds made available for further property investment
- 28 newly converted flats refinanced
- Local knowledge and an in-person site visit supported the application
- Close collaboration helped achieve completion within the offer period
By understanding the customer’s wider investment strategy and drawing on our local expertise, we helped release capital from the development and create a strong platform for continued portfolio growth.
Our Relationship Director’s view
Hoson Chung, Relationship Director at YBS Commercial Mortgages, said;"We were delighted to support an existing customer with the refinance of a second loan with YBS Commercial Mortgages, secured against a multi-unit freehold block in Birmingham city centre. We are grateful for the continued trust they have placed in us and look forward to supporting their future growth plans."
The deal
Product type: Commercial buy to let
Property: Multi-unit freehold block comprising 28 flats
Loan amount: £4.176 million
Structure: Interest only at 4.80%
LTV: 65%
Location: Jewellery Quarter, Birmingham
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