Wey Bridging Finance recently delivered a tailored refinancing solution that kept the project on track. The borrower acquired the property using a combination of personal funds and bridging finance before undertaking a comprehensive refurbishment of a substantial detached residence. The development transformed the property into a premium family home, complete with high-quality finishes and a swimming pool.
As the refurbishment neared completion, the borrower required additional funding to complete the remaining works. Their existing lender was unable to provide the further finance required, putting the project at risk of delay. Wey Bridging Finance stepped in to refinance the existing borrowing and provide the completion funding needed to bring the development to completion.
The Transaction
- Loan amount: £1,855,670.10
- Loan to Value (LTV): 62%
- Loan purpose: Refinance existing borrowing and provide completion funding for the final stages of a residential refurbishment
- Loan term: 18 months
- Gross Development Value (GDV): £3,000,000
The significant uplift between the property’s current value and projected GDV created a strong equity position, supporting a clear exit strategy through either the sale of the completed property or a long-term refinance.
Wey Bridging Finance provided the additional £300,000 required to complete the refurbishment after the borrower’s existing lender was unable to support the final stage of the project.
By recognising the property’s advanced stage of completion, maintaining a conservative overall loan-to-value ratio, and validating a clear exit strategy, we structured a funding solution that balanced the borrower’s needs with prudent risk management.
This case demonstrates our ability to look beyond standard lending criteria and deliver practical, flexible solutions.
