Case Study
Jo Powell recently arranged a £1.5 million regulated bridging loan to support clients midway through a high-value residential refurbishment. The property, currently valued between £3.5–£4 million, is undergoing significant works and has reached first fix stage, with internal finishes remaining. The bridging facility, structured with staged drawdowns, will provide the necessary funds to complete the project.
As part of the transaction, the clients also refinanced their existing £500,000 first charge mortgage under the same facility. The loan was secured at a low 23% loan-to-value, with a highly competitive 0.62% monthly rate, reflecting the strength of the asset and exit strategy. Once completed, the property is expected to reach a gross development value of £6 million.
Despite the complexities of the asset and timing, the deal completed smoothly in just 7 weeks. The clients plan to exit via a lifetime mortgage, offering a long-term solution. A £15,000 broker commission was paid upon full drawdown.
Subject to status. Product and criteria availability is subject to change or withdrawal at any time. For intermediaries only.
