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Underwriting Your Project

Criteria and Rates

We can very quickly undertake an initial assessment of a loan’s viability and our team are very happy to help and explore all possible solutions.

The points below should act as a broad guide to our criteria, but further information is available from our team.

  • As Seneca Bridging is an unregulated lender, we can’t provide finance on properties in which the borrower (or their family) has lived or will live in at some point in the future.
  • We can provide development finance against property schemes in England, Wales and Scotland.
  • After terms have been agreed in principle, and we’ve received a full application form, we will undertake credit checks on the borrower(s).
  • The experience of the borrower and their team is key for us.
  • A viable exit plan is essential; ┬áif the exit involves refinancing the security to a long-term lender, we’ll assess the loan in line with standard industry criteria.
  • When underwriting development finance loans, we’ll expect to see good contracts with experienced and financially stable partners.
  • We consider most asset classes for the purposes of secured lending, though there are a small number of exemptions, such as holiday homes, land without any level of planning permission, nursing homes and certain types of agricultural land.

Exceptional Value

  • We aim to give you an initial response within a couple of hours of receiving your enquiry.
  • We can offer loans from 0.95% per month – the lower the risk, the lower our rate will be.
  • We’ll not charge any fees for initial engagement or early redemption.
  • We typically charge arrangement and exit fees from 1% of the total bridging loan or development loan.
  • We’ll always ensure the valuers, solicitors and lawyers who represent our interests offer the right mix of price, speed and expertise.
  • We aim to pay introducer fees on the day of completion.