Seneca is delighted to have assisted a returning client in Cambridgeshire with their second successful bridging loan. Following the completion of a £1.5 million development on a previous Seneca loan, this client demonstrated their trust in our reliable finance solutions once again.
The client sought a £290,000 bridging loan to refinance a piece of land they currently owned. This strategic move is allowing them to immediately fund the purchase of further land, with the ambitious plan to develop three high-end residential properties.
This transaction was structured with robust security, including a First Charge over the refinanced land and a further First Charge over the newly acquired land upon completion of its purchase.
At Seneca, we pride ourselves on building lasting relationships and facilitating the continued growth of experienced developers. This case exemplifies our ability to provide flexible, quick-to-close funding solutions that enable our clients to rapidly seize new opportunities.