An experienced developer required funding to construct an access road and install utilities on a parcel of land in Norwich. The objective was to secure full planning permission for two residential properties and transition to long-term refinancing. Having already commenced works, the borrower needed a fast, flexible facility without the friction and cost of traditional monitoring.
The Direct Answer: Seneca’s Tailored Solution
- Loan Amount: £162,500 Gross Loan (£150,000 facility)
- Location: Norwich
- Product: Flexible Development & Bridging Finance
- Key Feature: No Quantity Surveyor (QS) requirements; self-certified drawdowns
- Security: 1st charge over the site; equitable charge over a portfolio asset
- Seneca BDM: Sophie Moore
Leveraging our 20 years of specialist lending expertise, Seneca structured a facility that eliminated the need for an independent QS. Instead, our internal professional team reviewed the proposed works and costings, trusting the borrower’s extensive experience to allow self-certified drawdowns. We obtained valuation reports assessing the land both as-is and with the benefit of planning to ensure complete structural clarity.
The transaction required ultimate agility. The borrower requested several structural changes throughout the legal process. Because we utilized dual legal representation, our legal team adapted to these variations instantly—saving the client both time and money without skipping a beat.
Celebrating 20 Years of Trusted Lending
Since 2006, Seneca has provided transparent, dependable, and swift funding solutions for complex property developments.