Case study: £1 million + bridging loans completed in November

See our latest bridging loan rates and criteria on our product page. 

Despite a national lockdown beginning in November it hasn’t impaired our ability to meet the ambitions of our borrowers. 

While we’ve opened up more options for borrowers to get their next investment valued with desktop valuations for loans up to £250,000, we’re still seeing plenty of appetite for larger deals, regardless of any uncertainty attached to a lockdown.

Here are three deals we’ve completed in November worth over £1 million each.

Minster

Funds to refinance while waiting for final planning approval before exiting onto our development finance facility. Some of the surplus funds were also used to raise additional working capital for another site the client has recently acquired.

Loan amount: £2.3 million

LTV: 51%

———

Tonbridge

Purchase of a commercial property with planning permission for 13, 3-bedroom houses. The buyer wants to enhance the planning approval to get 13, 4-bedroom houses before exiting onto a development loan or selling the site. 

Loan amount: £1.4 million

LTV: 70%

———-

Essex

Purchase of a residential property for the purpose of acquiring the site, obtaining planning and developing out the site.

Loan amount: £1.2 million

LTV: 65%

———-

See our latest bridging loan rates and criteria on our product page.