Seneca Bridging completes 4 deals in 2 weeks during March 2019

Funded:

£960,000

Location:

North East, North West, South West

Property Type:

Commercial, Residential

Funding:

Bridging Loan, Conversion Loan, Development Finance

Stockton-on-Tees, North East
A £50,000 bridging loan secured against a flat in Stockton-On-Tees. The purpose of the loan was to raise capital against the property to assist the borrower’s cashflow in another scheme. The transaction was completed within a month of introduction.

Devon, South West
A £335,000 bridging loan to purchase a property in Teignmouth with planning permission to convert the rear of the property into flats. The bridging loan allowed our borrower to purchase the property, the conversion of which is to be funded by the borrower’s own funds.

Fife, Scotland
A £173,000 bridging loan to experienced property developers in Fife. The project was to convert a former sports hall into 3 no residential units. With the assistance of all legal and construction professionals involved, the development loan completed in just over a month.

Cheshire, North West
A £400,000 development facility to an experienced local developer to purchase land with planning permission to develop 2 no detached properties. Despite the transaction being complicated by issues affecting title and various grants of easement, the development loan completed and the construction is now fully underway.

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

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

Conversion Loans – Key Features

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  • Purchase or Refinance: Secure or refinance the property quickly, even before planning is finalised.
  • Staged Drawdowns for conversion: Funds are released in stages as the works are undertaken.
  • Interest Flexibility: Often structured to allow interest to be rolled up and repaid upon completion or exit.
  • Market leading LTV’s: Borrowing capacity is assessed based on current and projected post-conversion value—unlocking greater leverage.
Learn more about our Conversion Loans

Recently Funded Projects

10 Day Turnaround for Refurbishment Finance in Sheffield

Funded:

£180,000

Location:

North

Property Type:

Residential

Funding:

Refurbishment Loan

Read article

£1.3m Refinance & Capital Raise in Cumbria

Funded:

£1.3M

Location:

North

Property Type:

Commercial

Funding:

Bridging Loan, Capital Raise

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Empowering First-Time Investors with Agility and Speed

Funded:

£230,000

Location:

North East

Property Type:

Residential

Funding:

Refurbishment Loan

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