Funding to support the auction purchase of a 4 bed detached property in Oxford

Funded:

£305,000

Location:

South East

Property Type:

Residential

Funding:

Bridging Loan

The Project

Our Borrower, who is an experienced developer and a repeat client to Seneca Bridging, required funding to support the auction purchase of a 4 bed detached property in Oxford.

The Approach

With the auction having an imminent deadline date, Seneca needed to act quickly and instructed its experienced panel of professionals to report on the property and carry out full due diligence within a very tight timeframe.

The Outcome

Seneca completed on the funding within 2 weeks of instructing the Solicitors, providing a Gross Facility of £305,000.

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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