Seneca Bridging have completed two new deals in the space of a week…
Seneca provided £134,000 bridging finance to assist the borrower with the purchase and refurbishment of a portfolio of 4 properties in Scotland. Seneca instructed a surveyor to value all 4 properties and lawyers were instructed immediately thereafter. Seneca is currently supporting the same borrower with a second bridging loan which is in the legal process for an urgent auction purchase.
Seneca provided £956,000 development finance to an experienced property developer in North Yorkshire. The clients had already obtained full planning permission to build 4 x residential properties and required Seneca to support the purchase of the site and to fund the development costs. With the help of all professionals involved, completion of the loan has been a smooth and successful process.