Fast £950k Development Exit Refinance, Bury
Quick Summary
- Lender: Seneca Bridging
- Broker: Zak at Sandiway Finance
- Solicitors: CG Professional (Dual Legal Representation)
- Loan Amount: £950,000
- Speed: 3 weeks from credit approval to completion
- Key Benefits: Desktop valuation and dual legals saved the client thousands in existing lender fees
How Did Seneca Complete This £950k Refinance in 3 Weeks?
Seneca Bridging delivered a £950,000 development exit facility in Bury within just 3 weeks from credit approval to completion.
Working closely with broker Zak at Sandiway, Seneca’s Paul Ratcliffe attended the site directly to confirm the four 3-bed houses were fully completed. This allowed Seneca to instruct a fast-track desktop valuation. By utilizing dual legal representation via CG Professional, Seneca streamlined the legal process and saved the customer thousands of pounds in potential exit and extension fees with their existing lender.
Seneca also allowed secondary compliance documents post-completion, ensuring an uninterrupted drawdown backed by the borrower’s established property experience and solid sales progress (3 units sale agreed).
Why Developers Choose Seneca Bridging
With over 20 years of commercial lending expertise, Seneca delivers swift, practical short-term finance solutions:
- Cost & Time Savings: Desktop valuations and dual legal representation streamline completions.
- Rapid Execution: Credit approval to funding in as little as 3 weeks.
- Pragmatic Terms: Tailored conditions that support real-world project deadlines.