Seneca Bridging complete £975,000 Development Loan on the South Coast of England

Funded:

£975,000

Location:

South

Property Type:

Residential

Funding:

Development Finance

The Project

An experienced property developer needed help funding a ground-up development project of 2 detached houses on the South Coast of England.

The Approach

We provided the funds to acquire the site and build two detached houses over a 16 month loan term.

The Outcome

As it says on the tin, Seneca provided fast, flexible property finance and the client is ready to start this exciting project.

Development Finance – Key Features

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  • Comprehensive Coverage: Funds typically cover land purchase, professional fees, and build costs.
  • Staged Drawdowns: Capital is released in phases, usually against certified expenditure.
  • Tailored Structures: Designed around project timelines, often short- to medium-term in duration.
  • Market leading LTV’s up to 75%.
  • We typically fund 75% of land purchase costs and 100% of construction/development expenses
  • Loans from £100,000 to £2,5m.
  • Expert Team & Relationships: We work with expert surveys who work closely with Developers to ensure funds are delivered promptly through the construction phase aiding cashflow.
  • Transparent and Responsive Service: With fast decision-making and clear dialogue, we support borrowers from initial enquiry through to delivery and repayment.
  • Unregulated Product: these Bridging loans are not FCA-regulated, they are not available for owner-occupied residential properties.
Learn more about our Development Finance

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