Traditionally, these types of loans have been used to repair broken chains in house sales, but flexible short-term funding is becoming increasingly popular for a variety of purposes, including regeneration schemes.

One such project we’ve been involved with is the purchase of a mixed-use property in Broad Street, Birmingham. This is a popular and lively area in the centre of the UK’s second city, and so when the investors Soller Group identified a building they wanted to develop, they knew they would face tough competition.

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Having been introduced to Together previously, Soller Group approached us and – after reviewing the case – we provided a £787,500 bridging loan, with a quick turnaround, allowing them to complete the acquisition at a competitive price. The buyers now intend to request planning permission to transform the building into serviced apartments, delivering much-needed accommodation in the heart of this exciting regeneration area.

In cases like this, speed and service are key to securing the deal ahead of competitors as these kinds of commercial properties have huge potential for redevelopment, and could become a great asset to the area.

It was fantastic that we could step in to deliver a quick completion that mainstream lenders couldn’t match. In applying our commonsense approach, we were able look at the bigger picture and we’re delighted that we were able to play a part in this exciting development.