FD Commercial completes 70% net regulated bridging loan in three weeks for £1.1m Reading auction purchase

30 April 2026

Bristol, 29 April 2026 - Specialist finance broker FD Commercial has completed a regulated bridging loan at 70% net loan-to-value, funded by Precise, in three weeks from application to completion. The funds enabled a client to purchase a £1.1m property at auction in Reading as their main residence.

The property, secured at auction, required a light refurbishment that placed it outside standard residential mortgage criteria in its current condition. With the standard 28-day auction completion deadline in play, a residential mortgage was not a viable route. The client needed certainty of funds, fast execution, and a lender comfortable with a regulated bridge on a property needing refurbishment.

Precise funded the deal at 70% net LTV. Lightfoots acted for both borrower and lender. The exit will be a residential mortgage once the refurbishment is complete.

Wes Davidson, Director at FD Commercial, commented:

"Three weeks from application to completion on a regulated refurbishment bridge of this complexity and size is not standard, and it does not happen by accident. You need a lender that underwrites cleanly and a solicitor who knows what they are doing on a bridging case. Precise were excellent throughout, and having Lightfoots on the file, acting for both sides, was essential. There were plenty of hurdles to clear, and without first class management by all parties the deal would have run past the auction deadline."

He added: "Auction purchases at this level need everyone moving at the same pace. The client gets the home they wanted and a clear route off the bridge once the works are done."

Alan Kimber, Head of Bridging at Precise, commented:

"This is exactly the kind of deal bridging is designed for, fast moving auction purchases where speed and certainty are non-negotiable. We worked closely with FD Commercial to deliver funding at pace, giving their client the confidence to move forward. With a clear exit strategy in place, we acted quickly and ensured completion well within the auction deadline."

The case reflects a wider trend FD Commercial is seeing across the South of England, with high-earning buyers using regulated bridging finance to compete at auction for properties that would benefit from refurbishment before refinancing onto a standard residential mortgage.

FD Commercial arranges specialist commercial and bridging finance from £250,000 across England, Scotland and Wales.