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Seneca Bridging completes 4 deals in 2 weeks during March 2019

Seneca Bridging completes 4 deals in 2 weeks during March 2019

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.

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