Structuring a Two-Lender Capital Raise Across a Property Portfolio

The clients wanted to fund the purchase and refurbishment of a new residential property while retaining their existing investment strategy. Their financial position included a main residence and buy-to-let portfolio, while part of the required capital needed to be released progressively as refurbishment works advanced.

A single conventional refinance did not provide the required combination of capital and flexibility. The clients needed an approach that considered their broader property position while matching the timing of borrowing to the expenditure associated with the works.

Portfolio lending remains a significant part of the UK property finance market. According to UK Finance data published in July 2026, 58,272 new buy-to-let loans worth £10.8 billion were advanced in Q1 2026, representing increases of 3.26 per cent by number and 7.02 per cent by value compared with Q1 2025.

For investors with several properties, lenders can assess factors including rental income, property values, existing debt and overall leverage across the portfolio rather than considering an investment asset entirely in isolation.

Enness divided the capital requirement between two facilities. The first was a remortgage of the family's main residence designed to provide a lump-sum capital release. The second was a staged drawdown facility secured against a buy-to-let asset, allowing additional funds to be released as the refurbishment progressed.

This structure meant the clients did not need to draw all of the refurbishment capital at the outset. Instead, the staged facility was designed to align further borrowing with the progress of the works.

The wider portfolio could also form part of the lending assessment. Enness's portfolio mortgage guidance explains that specialist lenders can assess factors including combined rental income, existing debt, property values and the overall investment strategy when considering portfolio borrowing.

For the residential element, Enness also works with lenders on London and UK mortgage requirements involving refinancing, equity release and clients with wider property portfolios.

Both facilities remain subject to status, valuation, lender credit approval and legal due diligence.

Both facilities are progressing in parallel, with the proposed structure designed to provide the capital required for the residential purchase and refurbishment while avoiding a wider restructuring of the clients' existing investment portfolio.

Because the source case has not confirmed completion, this should not be presented as a completed transaction. The facilities remain subject to their respective lenders' requirements and could be amended or withdrawn before completion.

A related Enness case involved a UK-based homeowner and property investor who used equity released from an existing buy-to-let portfolio alongside a residential mortgage to fund a new London property purchase.

“Sometimes the most effective structure isn't trying to make one lender solve every part of the requirement. By separating the capital raise, we could match each facility to the asset and to when the clients actually needed the funds.”

-       Toby Johncox, Group Managing Director, Enness Global