Greenfield Bridging - Bridge of the month (April)

Two clients were in the middle of navigating a complex refinance and needed a solution, fast.

They had originally secured bridging finance across two residential properties: Property A, valued at £725,000, and Property B, valued at £450,000. The second property had been purchased as a refurbishment project, with plans to convert it into a residential home. But like many development projects, the timeline had stretched. The works had taken longer than anticipated, and now the original bridge was approaching expiry.

They needed to refinance - not just to repay the current lender, but to buy some breathing space to complete the works and allow time for a clean exit.
The proposed exit? The sale of Property A, which was already on the market. But they couldn’t afford delays. The current bridge was ticking down, and the risk of default was growing by the day.
That’s where we came in.

We structured a new facility with a net loan of £500,000, secured across both properties. The deal stacked up, with a net LTV of just 42.55% and a gross LTV of 48.27% based on the projected balance at the end of term - giving the clients a clear, low-risk route to exit once the sale of Property A completed.
Everything was lined up quickly, giving the clients the time they needed to finish their refurbishment and exit on their terms.