skip to main content
Bridging and development facility
Bridging and development facility
Case Studies

Bridging and development facility

A Special Purpose Vehicle (SPV) limited company building a number of residential developments.
  • Send me an email

Project

The SPV had in 2015 bought a development plot in Bristol using a bridging loan and set about gaining planning permission for a block of 38 apartments. The company then required development finance to pay off the bridging loan and fund the build. This client planned to sell the properties on completion. It needed to receive the funds as soon as possible as planning permission was granted.

Finance

The SPV was looking to borrow £830,000 to pay off the bridging loan and £3 million to build the development. The facility would be released in stages as the development progressed. The client was extremely rate driven to maximise profits.

Trinity Specialist Finance secured the full funding within six weeks.

Here's why:

  • The developers had considerable experience with property
  • It had been granted planning permission and met the lender's specific requirements
  • It was using a specialist contractor which had carried out a project of that size and type before.

Solution

Pay off bridging loan: £800,000
Build costs: £3,000,000
Gross development value: £7,500,000
Loan facility: £4,500,000
Rate: 6.90%
Term: 21 months
Facility fee: 2%
Exit fee: 1.5% of facility amount

June 2016

Get in touch

Find out how we can help you to secure finance by calling 020 7649 9885, or book a consultation using the form below. Our experts are happy to assist.

Request a Callback

Tell us more about your funding requirements.

Please note, by submitting this information you have given your agreement to receive verbal contact from us to discuss your mortgage requirements.