Seneca Bridging delivered a £130,000 total funding solution in less than two weeks, utilising a readdressed valuation and specialist Scottish legal expertise to ensure a seamless completion.
An Edinburgh-based investor with an extensive property portfolio identified a high-potential apartment in a prime Edinburgh location. The goal was to secure the property quickly, perform minor refurbishments, and refinance onto a Buy-to-Let (BTL) mortgage to generate long-term monthly income. The borrower needed a lender that understood the nuances of the Scottish property market and could move with the speed of a cash buyer.
The deal was introduced to Paul Ratcliffe, Head of Business Development, via a professional broker. Seneca’s internal processes allowed for immediate action:
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Time and Cost Savings: to expedite the process, we relied on a previous valuation readdressed to Seneca, saving the borrower both significant time and the cost of a new report.
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Specialist Conveyancing: navigating the differences in Scottish property law is critical; we engaged a specialist Scottish legal firm to manage the conveyancing, ensuring no delays.
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Tailored Funding: after a prompt assessment of the valuation, Seneca approved a 72% LTV bridging loan towards the purchase of the property.
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Rapid Completion: From the moment the terms were agreed, the deal progressed with such speed that completion was achieved in under two weeks.
As Seneca Bridging approaches its 20th anniversary this year, we continue to lead the bridging and development finance market by our:
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Experience: with 20 years in specialist lending, we have longstanding experience lending against residential and commercial properties across the UK to support developers and investors achieve their growth ambitions.
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Expertise: our team provides sharp and direct decision-maker led financial solutions.
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Authoritativeness: we are recognised as a go-to lender for broker firms of all sizes, capable of turning around first-time relationships into successful, long-term partnerships.
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Trustworthiness: we prioritise transparency and clear communication, helping our brokers and clients navigate every step of the funding process with confidence.