Business Mortgage Finance 7 Plc - In Administration
On 11 August 2026 Mark Banfield and Catherine Atkinson of PwC were appointed as joint administrators of the Company (“the Joint Administrators”) following an appointment by BNY Mellon Corporate Trustee Services Limited as trustee on behalf of the Noteholders (as defined below), acting on the instructions of the most senior class of Notes outstanding and as holder of a registered qualifying floating charge.
The Company is a special purpose securitisation vehicle established in May 2007 holding a portfolio of c.308 commercial mortgage loans, granted to SMEs and owner-managed businesses and secured against UK commercial and mixed-use real estate (“the Loan Portfolio”).
BNY Mellon Corporate Trustee Services Limited acts as trustee on behalf of a number of note-holders whose indebtedness is secured by fixed and floating charge security over the Company’s assets (the “Noteholders”). The Company is in default under the existing financing arrangements following the non-payment of interest in full on the most senior class of Notes.
Following their appointment, the Joint Administrators are currently exploring a sale of the Company's business and assets, which comprises the Loan Portfolio. The Joint Administrators have already received an expression of interest from a credible party and the Joint Administrators expect that party to make a formal offer. In the absence of any other credible interest or offers, the Joint Administrators expect to conclude a sale to this party within three months of the Joint Administrators' appointment.
However, should any creditor (or third party) have an interest in acquiring the Loan Portfolio from the Company, they should contact the Joint Administrators as soon as possible at uk_bmf7_sales@pwc.com.
Operations of the existing loan servicer Target Servicing Limited will continue on a business-as-usual basis in the interim. All mortgagors within the Loan Portfolio should continue to make all payments due as usual.
Mark James Tobias Banfield and Catherine Rachel Atkinson have been appointed as Joint Administrators of the Company to manage its affairs, business and property as its agents and without personal liability. The Joint Administrators are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales. The Joint Administrators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.
The Joint Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Administrators.
