£350,000 commercial bridge to allow planning process to begin on West Lancashire commercial property

Funded:

£350,000

Location:

North West

Property Type:

Commercial

Funding:

Bridging Loan

The Project

To support a well established and highly experienced team of property developers to purchase their next project in West Lancashire.

The Approach

Seneca has provided funds to aid the purchase of the property to allow time for them to obtain full planning to convert the existing building into residential units.

The Outcome

The project was complex due to the existing usage of the building. However, working with the broker, borrowers, and 3rd party professionals we completed the loan to allow them to purchase the site and begin the planning process.

Bridging Loans – Key Features

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  • Fast Decisions: Initial responses typically delivered within hours—perfect for time-sensitive situations like auction purchases.
  • Loan Size: £100,000 – £2.5 million.
  • Loan-to-Value (LTV): Up to 75% of the end value (Gross Development Value or market value), with flexibility available on a case-by-case basis.
  • Desktop valuations are available
  • Term: Usually up to 12 months, but occasionally longer if LTV can support it.
  • Interest Roll-Up: Interest can be “rolled up” and repaid at exit, easing cash-flow pressure during the loan term.
  • Interest Serviced: Interest can also be “serviced” allowing a larger day 1 cash drawdown (subject to serviceability).
  • Exit Strategy Required: Clear repayment strategy—such as sale or refinance—must be established at the outset.
  • Security: First legal charge on the property is required.
  • Transparent Costs: Arrangement fees typically start at 1%. No early repayment or exit fees, and no hidden admin charges.
  • Unregulated Product: these Bridging loans are not FCA-regulated, they are not available for owner-occupied residential properties.
Learn more about our Bridging Loans

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