We recently assisted a borrower by providing a £780k bridge loan. The developer had previously purchased a property in Northwood and completed a development project that involved demolishing the existing house and constructing eight flats.

Seven of these units have already been sold. The purpose of the loan was to repay the developer’s existing loan with another lender and to allow additional time to sell the last remaining unit, which is a raised ground floor 2-bedroom flat that includes two basement parking spaces.

The Borrower was very pleased with the outcome, and this case study demonstrates how a bridging loan can take the pressure off when the sale of a property is yet to take place.