£1.8M Bridging Loan Delivered Against the Clock

A property developer client got in touch seeking a £1.8M bridging loan to repay an existing bridge. The clients original bridging loan had been taken out to fund a ground-up rebuild. The project was to replace an old, outdated cottage with a modern 5-bedroom property.

The client required the funds to repay the existing £1.3M bridge, with a further £500,000 needed to fund final stage works, as well as purchase of a holiday home. The exit would be the sale of the property. With potential missed payment fees looming, speed and flexibility were essential to find a solution.

Our expert underwriting team reached out to our panel of 30+ bridging lenders, to ensure the client had alternative options to choose from. Within 4 days, we had secured a development exit bridging loan with a reputable lender. The lender was willing to loan the full amount required whilst also offering rolled-up interest aligning with the client’s needs. We fulfilled the client’s needs, allowing them to repay their existing bridge on time, as well as securing additional funding to complete the works. The funds also meant the client could purchase their dream holiday home. A triple success!