In addition to providing typical Bridging Finance, Seneca Bridging will consider 100% finance on ground up development projects for experienced developers with a strong track record of successful developments.
We were approached in January to consider such a funding request from a very experienced developer in the South of England. Funding was agreed to acquire the site and cover all build costs and professional fees totalling £1.9 million. The site had planning consent to knock down the existing property and replace with 8 apartments, which had a projected Gross Development value of £3.2 million.
Time was of the essence to secure the site – from first application to completing the acquisition took only 4 weeks thanks to the hard work of our Professional Team who advised us on the transaction.
Seneca Bridging has a strong team with a concentration of property lending experience and we are able to guide developers directly as well as via brokers on how we can best assist them.
We are contactable on 01942 295 982 or by email at enquiries@senecabridging.co.uk.
Seneca Bridging offers short term bridging loan funding for residential and commercial property transactions, auction purchases, renovations and development projects. Seneca Bridging is a principal lender, not a broker or intermediary service. The team lends their own funds so don’t need to consult other lenders or banks.
Seneca Bridging provides unregulated bridging and development finance to individuals and companies throughout England, Wales and Scotland. Seneca Bridging’s reputation is built on providing quick, flexible and dependable finance.