Mixed Use Bridge

Multi-Purpose Bridge in Bristol

Facility
£ 0 k
Term
0 m
LTV
0 %
Days to
Funding*
0

What Our Borrower Needed

The borrower owned 2 adjoining properties – a semi-detached house and an ex-community hall – which they wanted to borrow against. They wanted a bridging loan to enable a refurbishment of the house, whilst the borrower applied for planning permission on the hall for a future development loan

How We Helped

We provided all the funding upfront to enable the borrower to crack on with the development without delay. Given their strong development experience with units like this, we were happy to lend 50% against the ex-community hall, and they have now moved on to developing that property as well.

Mixed-use loans can seem complex to underwrite, but they don't always need to be. In this case, it was as simple as offering 70% against the residential unit and 50% against the commercial. The borrower was happy with these terms and we were happy to lend!
Joe, CFOO

* Working days from offer to completion