# Bridging & Commercial — Full Content for LLMs > This file provides detailed article content from Bridging & Commercial for AI model indexing and citation. > For a summary version, see: https://bridgingandcommercial.co.uk/llms.txt > Website: https://bridgingandcommercial.co.uk Bridging & Commercial is the UK's leading specialist finance news publication covering bridging loans, commercial mortgages, development finance, and specialist lending. Founded in 2011. --- ## Hope Capital opens new Liverpool headquarters - **Author**: Tara Sammons - **Date**: 9 September 2026 - **Section**: Finance - **URL**: https://bridgingandcommercial.co.uk/hope-capital-opens-new-liverpool-headquarters - **Keywords**: Hope Capital Property Finance, Liverpool headquarters, Alaska House Liverpool, Jonathan Sealey, Steve Sealey, Kate Cowan, property finance lender, Liverpool business growth > The lender’s new office is designed to support future growth and collaboration Hope Capital Property Finance has unveiled its new headquarters at Alaska House in Liverpool. The new office has been designed to support the company’s continued growth and provide an inspiring environment for its expanding team. The 10,000 sq ft space includes an auditorium, meeting spaces, video call booths, a media room and social areas, including a bar. Jonathan Sealey, CEO at Hope Capital Property Finance (pictured above, centre), said: “ From a small start-up operation to a 45-strong team and a 10,000 sq ft headquarters, this investment reflects our ambition for the future. “ We have deliberately remained in Liverpool throughout our growth. Liverpool is at the heart of who we are, and we are incredibly proud to have grown our business here, creating jobs, attracting talented people and investing in the local community.” Chairman Steve Sealey (pictured above, left) said: “ Our journey has always been closely connected to this community. We have grown here, recruited here and invested here, and we are proud of the contribution we continue to make to the local area.” Kate Cowan, chief financial and operating officer at Hope Capital Property Finance (pictured above, right), added: “ We wanted to create a headquarters that matches the ambition of the business and, most importantly, gives our people the environment they need to succeed. “ Every aspect of the new workplace has been considered around how our team works, collaborates and grows. This is an investment in our people as much as it is in our premises.” --- ## Octane creates strategic development manager position to broaden reach - **Author**: Tara Sammons - **Date**: 9 September 2026 - **Section**: People - **URL**: https://bridgingandcommercial.co.uk/octane-creates-strategic-development-manager-position-to-broaden-reach - **Keywords**: Octane, Chris Kirby, Richard Deacon, Jonathan Samuels, Octane strategic development manager, Shawbrook, The Mortgage Lender, Bluestone Mortgages > Former Shawbrook executive joins to enhance broker partnerships and distribution Octane has appointed Chris Kirby (pictured above, right) as strategic development manager, a newly created role designed to support the lender's next phase of growth. Chris joins from Shawbrook, where he led a team of eight BDMs responsible for more than £1bn of annual residential and BTL mortgage originations under The Mortgage Lender and Bluestone Mortgages brands. He brings over 15 years of experience across mortgage lending, intermediary distribution and specialist property finance, having held several senior leadership positions throughout his career. In his new role, Chris will strengthen relationships with brokers and strategic partners, identify new distribution opportunities, and broaden the reach of Octane’s proposition. Chris commented: “I’ve already seen first-hand that not only is there a wealth of experience here, but there are also real togetherness and ‘can-do’ attitude, so I’m really looking forward to playing my part in their story. “Octane’s reputation speaks for itself in the market, and with the ambitious growth plans for the coming years, I'm eager to get stuck in and support Octane as they look to broaden their reach and support more brokers and property investors in an ever-evolving market." Richard Deacon, managing director of sales (pictured above, left), added: “Chris is a really important appointment for us and brings a huge amount of experience across intermediary distribution, specialist lending and the wider mortgage market. “We’ve got ambitious plans for the next stage of Octane’s growth and a big part of Chris’s role will be looking at where the next opportunities come from — whether that’s developing new strategic relationships, working more closely with networks and clubs, opening up new distribution channels or helping us explore how we can broaden our proposition over time." CEO Jonathan Samuels said: ‘’Importantly, this isn’t just a strategic role sitting away from the day-to-day business. “Chris will be out with brokers, originating business himself and working closely with the wider sales team, while also looking at opportunities that can benefit Octane more broadly. “He’s incredibly well connected, knows the intermediary market inside out and brings a different skillset and perspective to the team.” --- ## 'I don’t take for granted how quickly brokers have trusted us': Ben Keenan reflects on Pallas’ UK launch - **Author**: Tara Sammons - **Date**: 9 September 2026 - **Section**: Features - **URL**: https://bridgingandcommercial.co.uk/i-dont-take-for-granted-how-quickly-brokers-have-trusted-us-ben-keenan-reflects-on-pallas-uk-launch - **Keywords**: Pallas Capital UK, Ben Keenan, Pallas Capital launch UK, UK bridging finance, development finance UK, SME property developers, property lending UK, structured property finance > A £200m funding line caps a strong first eight months for Pallas Capital's growing UK business When Ben Keenan (pictured above) set up Pallas Capital's UK division in January 2026, he wasn't arriving as a stranger to the market. He first moved from Australia to London in 2005 with construction contractor Multiplex, initially to oversee litigation relating to the completion of Wembley Stadium. What followed was an 18-year UK career: general counsel, then director of strategy, and a board seat through a period in which Multiplex grew from roughly £200m to £1.5bn in annual turnover and over 1,000 staff. Later, Ben ran his own small-scale residential development business in and around London, acquiring sites just before the pandemic and delivering through it, which he describes candidly as one of the hardest times in his career. He returned to Australia at the end of 2021 and joined Pallas Capital, before the opportunity arose to bring the platform to the UK. "It doesn't feel new to me, being back in the UK. A lot of my adult working career has been here, a lot of my professional network is here, and a lot of my friends are here too." Market reception: faster and busier than expected Six months in, Ben acknowledged that the response to Pallas Capital's launch in the UK has outpaced his own expectations. However, enquiry volume was modest in the earliest weeks, but picked up markedly from around the three-month mark, shifting from speculative interest to executable transactions. Ben said: "I expected it would take a long time to earn our place in a market as sophisticated and established as this one. Brokers have trusted us more quickly than I anticipated, and I don't take that for granted." Ben attributed much of this to the team he built around him: originators whose relationships with brokers travelled with them. "The relationships our originators bring with them are the number one reason we've built momentum this quickly. But that only works because there's a product behind it that brokers are comfortable recommending." The borrower profile has tracked closely with expectations: experienced SME developers and SME property owners repositioning or developing assets, broadly consistent with the borrower profile Pallas lends to in Australia. Challenges and competition Ben explained that growth has come with its own tension, that of balancing the eagerness to deploy capital against the discipline of waiting for the right loans. In the first couple of months, the team chose to be selective rather than risk over-promising to borrowers before the operational capacity was in place to deliver. Today, the team stands at 26. He added that the wider market backdrop has added complexity. The circumstances under which some lenders have exited the market have affected how investment banks think about participating in this asset class. Ben described this shift as less about individual counterparties and more an institutional recalibration of appetite, with capital providers now favouring routes such as back leverage to institutional sponsors rather than direct senior positions in securitised structures. "Events like this don't change the underlying appetite for the asset class, but they do change, for a while, how capital wants to participate. The capital is still there; the market just needs time to settle on structures everyone's comfortable with." On competitor pricing moves, including recent entrants cutting bridging rates, Ben is measured, seeing much of it as aimed at a different, more volume-driven segment of the bridging market rather than the more structured, complex end where Pallas competes. Certainty of execution Ben insisted that what borrowers and brokers value most isn't necessarily raw speed, but certainty. That means investing in senior decision-makers who can form a genuine credit opinion early, rather than issuing indicative terms without real conviction behind them. "Brokers and borrowers don't just want a fast decision. They want a reliable one. We'd rather take a bit longer to give someone real certainty than move quickly and let them down further down the line." Having developed projects himself, Ben approaches every enquiry with an understanding of the time and personal investment that’s at stake for the borrower. "Every time I look at a loan enquiry, I remind myself this is someone's dream. I understand how invested people are, and also how easy it is to talk yourself into numbers that don't really stack up. Responsible lending means being disciplined enough to say no when the deal doesn't work, even when everyone wants it to." Ben saw a broader shift in deal complexity: more bespoke, heavily negotiated transactions rather than straightforward bridging, which he expects will continue to reward lenders with genuine underwriting depth over those competing purely on speed or headline pricing. Speaking about the wider market community, Ben shared: “I don't need to be everywhere myself, but I do enjoy getting out and building connections with other people in the market; there's more common ground with other lenders than people might expect." Looking ahead, Pallas’ intent is to keep growing within the same framework that's underpinned the first six months: staying competitive on pricing, leverage and structuring. Despite challenges in the wider development finance market, Ben remained confident there are good opportunities to be had. --- ## Butterfield Mortgages provides £4.5m funding for central London BTL property acquisition - **Author**: Tara Sammons - **Date**: 8 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/butterfield-mortgages-provides-45m-funding-for-central-london-btl-property-acquisition - **Keywords**: Butterfield Mortgages Limited, Butterfield Mortgages, BML, £4.5m funding, central London BTL acquisition, prime central London properties, buy to let finance, corporate BTL facilities > Lease extension, refurbishment plans and corporate restructuring accommodated in £4.5m deal Butterfield Mortgages Limited (BML) has lent £4.5m for the acquisition of two prime central London BTL properties with a combined value of £7m. The transaction involved an experienced property investor with an established portfolio of UK and international assets. They were seeking finance to acquire the two properties through a corporate structure. During the application process, the ownership arrangement evolved from personal ownership into a holding company with two separate SPVs. The case also involved a concurrent lease extension on one of the properties, while the second required refurbishment works before it could be fully marketed for rental purposes. In addition, the anticipated rental income did not fully meet standard BTL stress-testing requirements. BML considered the borrower's significant net worth, substantial liquidity reserves, broader property portfolio and wider investment assets. The lender provided £4.5m of lending at 65% LTV across two corporate BTL facilities, enabling the acquisition of both prime London assets through the client's preferred ownership structure. Alpa Bhakta, CEO at Butterfield Mortgages Limited (pictured above), said: "High net-worth borrowers often have sophisticated investment strategies and ownership structures that can create challenges when seeking finance through traditional lending channels. "This transaction demonstrates our ability to support complex corporate structures and evolving circumstances while maintaining a flexible and pragmatic approach throughout the lending process. “By working closely with the borrower and their advisers, we were able to deliver a tailored solution that supported both the acquisition and the client's long-term investment goals." --- ## MERA provides acquisition funding for £1.8m mixed-use site - **Author**: Tara Sammons - **Date**: 8 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/mera-provides-acquisition-funding-for-18m-mixed-use-site - **Keywords**: MERA, Leo del Rosso, James Wyllie, David Merson, Katherine Ilett, Hitchin mixed-use site, Hertfordshire property acquisition, acquisition funding > Complex multi-use property secured with tailored funding solution MERA has completed a £1,249,500 facility, secured at 70% LTV over a 24-month term. The deal supported the acquisition of a £1.8m former commercial glasshouse site near Hitchin, Hertfordshire. Purchased with vacant possession, the site comprises two bungalows, five acres of glasshouses previously used for commercial farming, and around 40 acres of farmland. The transaction was introduced by James Wyllie of Montpelier Private Finance. Leo del Rosso, associate director at MERA (pictured above), led the deal. The mixed nature of the site, spanning residential, commercial and agricultural uses, meant there was no standard lending template to apply. MERA had to assess the letting potential of the glasshouses, bungalows, outbuildings and farmland individually to structure a facility that reflected the asset's real value. The facility funded the acquisition, with the borrower's wider plan being to bring the site back into full use over time: letting the glasshouses, refurbishing and letting the two bungalows, and refurbishing and subdividing the commercial outbuildings into smaller units to appeal to local occupiers. Longer term, the owner will explore planning opportunities to develop further commercial space, with potential redevelopment of part of the glasshouse site. Leo commented: “Sites that combine residential, commercial and agricultural uses under one roof don't fit a standard lending box. “As our first deal with this client, getting comfortable with the opportunity quickly took proper diligence rather than a rate-card approach. “James was a great partner in bringing the deal to us, and it's exactly the kind of regional, multi-faceted transaction we want MERA to be known for. “We're looking forward to supporting the borrower as their letting and development plans for the site progress.” David Merson at gunnercooke supported MERA on legals. Katherine Ilett at Savills provided the valuation. --- ## Recognise secures £9.9m bridging loan against London and Glasgow commercial properties - **Author**: Tara Sammons - **Date**: 8 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/recognise-secures-99m-bridging-loan-against-london-and-glasgow-commercial-properties - **Keywords**: Recognise Bank, £9.9m bridging loan, commercial property refinance, London office building, Glasgow industrial unit, bridging finance UK, 52% LTV loan, property refurbishment funding > A quick completion was required to repay the existing lender Recognise Bank has completed a £9.9m bridging loan to refinance existing debt secured against two commercial properties in London and Glasgow. The 21-month facility, introduced by Raj Vilkhou of Express Financial Services, completed at 52% LTV. The security consisted of a central London office building and an industrial unit with office space in Glasgow. The funding enabled the client to repay its existing lender while providing sufficient time to carry out a light refurbishment of the London office and sell the Glasgow property as part of its exit strategy. The transaction needed to be completed within a tight timeframe to ensure the existing lender was repaid on schedule. Title indemnity insurance was used as part of the process, helping the bank maintain momentum on the transaction and complete within the required timeframe. Luke Beirne, senior lending manager at Recognise Bank (pictured above), commented: “ We worked closely with Raj and the wider professional team to take a practical view of the requirements and keep the transaction moving. “ Using title indemnity insurance helped us provide the certainty the client needed to complete on time, while the 21-month term gives them the necessary period to refurbish the London property and progress the sale of the Glasgow asset.” Raj said: “ The key requirement in this case was certainty of completion within the timeframe available. “ Recognise understood that from the outset and worked closely with us throughout the process to address the outstanding points and keep the refinance moving.” --- ## Recognise Bank joins the BDLA - **Author**: Tara Sammons - **Date**: 7 September 2026 - **Section**: Finance - **URL**: https://bridgingandcommercial.co.uk/recognise-bank-joins-the-bdla - **Keywords**: Recognise Bank, BDLA, Bridging & Development Lenders Association, Adam Tyler, Luke Watson, bridging finance, property lending, short term property finance > Welcoming a new lender member ‘adds depth to the membership’, says BDLA Recognise Bank has joined the Bridging & Development Lenders Association (BDLA) as a lender member. Adam Tyler, CEO at the BDLA, commented: “ It’s a pleasure to welcome Recognise Bank as a lender member. “ Its growing bridging proposition shows how important short-term property finance has become to established banks as well as specialist lenders. “ Recognise brings banking experience, a clear focus on brokers and a strong interest in property lending. “ That will add depth to our membership and support our work to give the sector a strong and responsible voice.” Luke Watson, director of intermediary sales and lending at Recognise Bank (pictured above), said: “ Joining the BDLA shows our commitment to the market and to supporting brokers and property professionals with clear decisions and certainty of delivery. “ The association gives us the chance to work with lenders that share our focus on responsible lending, exchange views on the issues affecting the sector and help maintain the high standards on which its continued growth depends.” --- ## Octane delivers £4.4m finish and exit for luxury Devon apartment scheme - **Author**: Tara Sammons - **Date**: 7 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/octane-delivers-44m-finish-and-exit-for-luxury-devon-apartment-scheme - **Keywords**: Octane, Francesca Woodhouse, Rick Hollingsworth, Nicky Pack, Dan Place, Balance for Business Ltd, developer exit finance, finish and exit facility > Five apartments are already reserved at the Devon development Octane has completed a £4.36m developer exit facility to support the completion and sale of a 14-unit apartment development in Paignton, Devon. The loan refinances an existing development facility and funds the final stages of construction at Keysfield Road, a part-complete scheme comprising two- and three-bedroom apartments arranged over four floors. The building is already wind and watertight, with the majority of units completed. Structured as a 12-month finish and exit facility, the loan comprises a day-one advance of approximately £4m, alongside a £360,000 refurbishment tranche to fund the remaining cost to complete. The outstanding works consist of non-structural fit-out and external works and are expected to be completed within eight to 12 weeks. The facility was structured at 75% LTV against the property's day-one value, assessed on a GDV less cost-to-complete basis rather than a residual valuation. This enabled the borrower to refinance its existing lender while retaining sufficient capital to complete the scheme and progress unit sales. The development, which is being marketed by Connells, has already secured five reservations with a combined value of £2.06m, with four units achieving offers at or above asking price. The facility is structured to amortise as units are sold, while also allowing surplus sale proceeds to be returned to the borrower. The transaction was completed for an established local development company, whose director has successfully delivered residential and commercial schemes across Torbay and Plymouth. The deal was introduced by Dan Place, BDM at Balance for Business Ltd, led by Francesca Woodhouse, senior BDM and underwritten by Rick Hollingsworth, head of short-term credit and Nicky Pack, senior credit manager at Octane. Francesca commented: “What made this deal work was our flexibility and willingness to understand the transaction in detail. “We took the time to understand the development, works completed and sales secured, and structured the facility around the project’s specific needs. “Working closely with the Balance for Business team, who shared our commitment to finding the right solution, made the process efficient and collaborative, ultimately delivering a successful outcome for all parties.” Dan added: ‘‘This transaction is a great reflection of our team’s expertise, commitment, and tenacity. “Octane were excellent to deal with from start to finish. “Throughout the process, they remained focused on the client and played a key role in getting the deal successfully over the line.’’ --- ## Somo delivers 70% LTV second-charge refinance ahead of deadline - **Author**: Tara Sammons - **Date**: 7 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/somo-delivers-70-ltv-second-charge-refinance-ahead-of-deadline - **Keywords**: Somo, Joe Cash, second charge loan, bridging loan refinance, 70% LTV loan, equitable charge, property refinance, bridging finance > An Equitable Charge structure helped keep the transaction on track Somo has delivered a second-charge loan at 70% LTV to allow a borrower to refinance an existing bridging loan. The facility, which was offered at 0.95% per month, refinanced a deal which was due to go over term in 10 working days. If the borrower missed the deadline, Somo said they would potentially have to consider selling their property quickly rather than waiting for the right offer. The lender instructed the solicitor and valuer as soon as the case reached underwriting, with the valuation inspection and report completed within four working days. In order to avoid delays with the first-charge mortgage provider giving consent, Somo contacted them directly and confirmed that consent would be issued once the process had been completed. With that assurance in place, Somo agreed to proceed using an Equitable Charge, with the borrower’s solicitor undertaking to upgrade the charge once consent was received. The refinance completed within the borrower’s deadline, helping them avoid additional default fees and interest. Somo also honoured the original 0.95% monthly rate, despite completing on an Equitable Charge basis. The borrower now has a full 12-month term to market the property. Somo senior underwriter, Joe Cash (pictured above) commented: “Ten working days is a tight turnaround for any refinance, but speed is about more than just moving quickly, decisions need to be made fast too. “We got the valuation and legals underway immediately, as always stayed close to the case throughout and when first charge consent threatened to slow things down, we found a sensible way forward.” --- ## ‘Bridging was always on our roadmap’: Afin Bank reflects on regulated bridging product launch - **Author**: Marc Shoffman - **Date**: 4 September 2026 - **Section**: Interviews - **URL**: https://bridgingandcommercial.co.uk/bridging-was-always-on-our-roadmap-afin-bank-reflects-on-regulated-bridging-product-launch - **Keywords**: Afin Bank, John Smith, business expansion, new products, individual underwriting, AVMs, mainstream lenders, dual representation > John Smith discusses growth ambitions, underwriting philosophy and early demand for regulated bridging A few months on from the new division’s launch, John Smith, Afin Bank’s new head of bridging (pictured above), explained why bridging was a natural next step. It has only been a year since Afin Bank launched in the residential property market with the aim of serving a niche of helping underserved borrowers, and it has already expanded into a new product range: regulated bridging. The lender currently focuses on residential and BTL lending for borrowers often ignored by mainstream lenders, such as foreign nationals and the self-employed. Regulated bridging was always part of the lender’s long-term plan, but John said broker feedback showed there was a pressing need to enter the market sooner rather than later. “Bridging was always on our roadmap of products we would be looking at ,” John told B&C . “When we got into this year it was one of the areas where we felt there was a bigger need than we had originally thought. It definitely came on board sooner than initially planned. ” John says there was a recognition that the bank’s model — helping borrowers that do n ’t fit the strict criteria of mainstream banks — could be applied to bridging. “We had made really good progress with residential and BTL and were getting our name out among brokers, ” he said. “It was a case of “the rest of it is going so well, let's look at other opportunities”, and bridging seemed to be the most obvious area we can step into without too many changes to how we operate. ” Bridging is an area where John has plenty of experience, from his time at West One Loans and Octane Capital. He joined Afin as senior BDM in January 2026, moving over from Molo , and admits he has always found bridging to be a more exciting product to work with . “You feel like more of a grownup — you’re actually putting together the deal and structuring it ,” he explained . “Residential and BTL can feel more transactional but with bridging you get to know the broker and it is easier to build up relationships. You keep control of the whole process until it goes out the door. ” Afin aims to stand out from its competitors with a few key features, including the ability to lend up to 80% LTV using AVMs and individual underwriting for each loan, with valuations based on open market value. In addition, applicants are offered dual representation to help deals get completed more quickly. Title insurance and personal borrower status can also be considered for customers with UK visas and limited credit footprint in this country. Loans are available from £ 50,000 up to £3m with a 2% arrangement fee on the net loan size, not the gross loan. Additionally, interest is rolled up and paid at the end of a loan; it is calculated on a daily basis and is not compounded, so customers pay exactly what is due when they exit. “If you go through a mainstream lender the process will be automated. With us it is not just about box ticking, ” John said. “We will chat about the client and our underwriters will see what supporting materials we need to make sure we are comfortable with the affordability. “‘We trust our valuations, but will factor in risk if we have to.” John was unable to provide any figures on how the range is doing so far, but he insists the brand is “really busy” and points out that plans are in place to expand the sales team . Afin already has an established customer base and broker network from its existing product range, and John is confident that demand will continue to grow. John said the loan book is a “real mix ” so far, with deals coming from all over the country, but remained coy about targets. “We have already exceeded what we thought we would achieve in terms of the entire business . “There are targets but we’re not making them public. “We are doing well; we knew the demand was there for bridging. “Ultimately, our main aim is to be the fastest-growing specialist lender across all products and bridging will make a strong contribution to that .” --- ## Roma Finance delivers £1.1m commercial bridge in seven days - **Author**: Tara Sammons - **Date**: 3 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/roma-finance-delivers-11m-commercial-bridge-in-seven-days - **Keywords**: Roma Finance, Michael Allison, Michael Street, Hatters Square Limited, commercial bridge loan, commercial bridging finance, FLOW commercial bridging, Denton commercial property > Borrower secures short-term funding ahead of potential refinance Roma Finance has completed a £1.1m commercial bridge in seven days for Hatters Square Limited. The £1.1m facility was provided at 55% LTV against the property's £2m market value over a six-month term. The facility was delivered through Roma's FLOW commercial bridging proposition, with the lender's commercial mortgage team also involved in assessing the potential longer-term exit. Hatters Square Limited is a property holding company co-owned by property professional and broker Michael Street and Josh Berry, a property developer who has completed more than £4m worth of property developments over the past decade. The pair acquired the commercial premises on Market Street in Denton in 2024, which is now currently being used as a food and drinks hall by existing tenants. The new funding enabled Hatters Square Limited to repay its existing lender, while providing time to establish a stronger trading track record for the property and complete the valuation required for its longer-term funding plans. Subject to the property meeting the relevant criteria, Hatters Square Limited has the potential to transition to longer-term finance with Roma. Michael Allison, commercial director at Roma Finance, said: “This is a fantastic result for our commercial team and a real reflection of how much our commercial proposition has developed. “What's particularly pleasing here is the opportunity to build on an existing relationship. The bridge meets the customer's immediate requirements, but there is a clear longer-term opportunity for us to continue working with them. “For us, that's what good relationship-led lending should look like.” Michael Street, co-owner of Hatters Square Limited, said: “This transaction came together exactly as we had hoped; with speed, clarity, and a lender who understood the opportunity from day one. “Roma was able to take a pragmatic approach, understand our respective experiences and delivered the funding in just seven days.” --- ## Lakeshield and Ultra Property Finance partner on £1.7m loan for listed conversion - **Author**: Tara Sammons - **Date**: 3 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/lakeshield-and-ultra-property-finance-partner-on-17m-loan-for-listed-conversion - **Keywords**: Lakeshield, Ultra Property Finance, Jon Sturgess, Alex McMillen, Southwark property, Grade II listed conversion, bridging loan, property investor finance > Title issues, planning deficiencies and a protected tenancy were addressed to meet a fixed deadline Lakeshield and Ultra Property Finance have completed a £1.65m bridging loan in two weeks to meet a borrower deadline for a lower purchase price. The loan funded the purchase of a converted period house containing five self-contained flats in Southwark, London, with title and planning deficiencies alongside a protected Rent Act tenancy on one flat. The borrower, an experienced property investor, agreed to purchase the Grade II-listed property at £2.2m following a seller's demand for a fixed completion deadline. With an estimated open market value of the property of £2.5m, by meeting the deadline, the borrower acquired the asset approximately £300,000 below the OMV. Lakeshield lent 75% LTV against the agreed purchase price. The property comprises a freehold semi-detached period house converted into five two-bedroom self-contained flats. The conversion, completed in 1989, carried limited Building Regulations compliance evidence from the previous owner. To cover any title and planning risks, Westcor title insurance was used, even with the planning enforcement periods having expired, removing any enforcement threat. Additional complexity lay in the lower ground floor flat, which was subject to a protected Rent Act tenancy, which confers security of tenure on the sitting tenant. A break-up valuation specific to that flat was used to accommodate this. The block's overall security position was lower than five individually saleable flats would have been; that reduction in liquidity was factored into the security assessment and pricing. The transaction moved from legal cost undertaking to completion in two weeks. The loan term runs for 12 months with interest serviced monthly at 0.99% per month. Jon Sturgess, BDM at Lakeshield (pictured above), commented: "We're incredibly proud of the outcome achieved on this case. “Completing a £1.65m loan in just two weeks on an asset with this level of complexity is a strong reflection of the experience, capability and determination of our team." Alex McMillen, director and founder of Ultra Property Finance, added: “Lakeshield moved quickly, the legal teams were proactive, and the client was fully engaged throughout. “Our role was to bring all parties together, keep the structure tight, and maintain momentum so the transaction could complete within the seller’s deadline. “The client secured a strong asset at a significant discount, and we’re pleased to have played a key part in getting it over the line.” The client added: “Alex took the time to understand exactly what I needed, moved quickly, and worked tirelessly to get the deal completed within a tight timeframe. “He was always responsive, understood the requirements of the transaction, and kept everything on track when it mattered most.” --- ## Alternative Bridging supports portfolio growth with £967,000 overdraft facility - **Author**: Tara Sammons - **Date**: 3 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/alternative-bridging-supports-portfolio-growth-with-967000-overdraft-facility - **Keywords**: Alternative Bridging Corporation, Taylor Osunsedo, alternative overdraft facility, second charge loan, property investor finance, property portfolio funding, revolving credit facility, residential property finance > Second-charge deal provides an experienced investor with capital for future acquisitions Alternative Bridging Corporation has provided a £967,000 alternative overdraft facility to an experienced property investor. The facility was secured with a second-charge against a £2.4m residential property in Stanmore at 70% LTV. The borrower, an existing Alternative Bridging client completing their fourth transaction with the lender, wanted a source of revolving capital for future property acquisitions, rather than arranging separate finance each time an opportunity arose. The transaction was supported by the borrower’s established track record, substantial property holdings and active development pipeline across London and the Home Counties. The deal, led by Taylor Osunsedo, BDM at Alternative Bridging Corporation (pictured above), gives the borrower the ability to draw funds when required and repay them as capital is recycled from other projects. Taylor commented: “Experienced property investors do not always know where their next opportunity will come from, but when the right deal appears, the ability to act quickly can make a real difference. “In this case, the client was not raising funds for one specific purchase. They wanted capital available in advance, so they were not starting a new finance application each time an opportunity came onto their radar. “Using a second-charge also meant we could provide that access to funds without disturbing the existing first-charge. “For brokers, there’s a wider point here about looking at how active property investors intend to use finance over the next 12 months, rather than focusing only on the deal in front of them.” --- ## UTB uses bridging broker portal to complete auction deal in 14 days - **Author**: Tara Sammons - **Date**: 3 September 2026 - **Section**: Finance - **URL**: https://bridgingandcommercial.co.uk/utb-uses-bridging-broker-portal-to-complete-auction-deal-in-14-days - **Keywords**: United Trust Bank, UTB Bridging, Buster Tolfree, bridging broker portal, regulated bridging loan, auction purchase finance, 75% LTV bridging loan, property auction funding > Regulated bridging loan supported the purchase of a £515,000 auction property United Trust Bank (UTB) has completed one of the first cases submitted through its new bridging broker portal, moving from application to formal offer in 14 days. UTB Bridging was approached by a broker with customers needing a £356,400 regulated bridging loan at 75% LTV on a £515,000 auction purchase to enable them to complete within the required 28-day deadline. The broker submitted the application via the portal on the 30th July, one day after its launch, with the valuation instructed the following day. Following receipt of the required information, the case was approved for signing and offer in just 32 minutes, with the formal offer issued on 13th August. Funds were released upon request on 25th August, enabling the customers to complete comfortably within their auction deadline despite a full physical valuation being required. UTB launched its new bridging portal at the end of July , enabling brokers to generate indicative terms and ESIS documents 24/7. Buster Tolfree, managing director of mortgages, BTL and bridging at United Trust Bank (pictured above), commented: "The response to the new portal from brokers has been fantastic and this case is a great example of exactly what we wanted it to achieve. "Auction purchases are all about certainty and speed. This application came in immediately after the portal launched, required a full valuation and still went from application to funds released comfortably inside the customer's 28-day completion deadline. “At one key stage, once everything we needed was available, the case was approved for signing and offer in just 32 minutes. "Technology should make it easier for brokers to do business with us and give our people more time to make decisions, solve problems and keep cases moving.” --- ## Precise supports intermediaries with bridging finance resource - **Author**: Tara Sammons - **Date**: 3 September 2026 - **Section**: Finance - **URL**: https://bridgingandcommercial.co.uk/precise-supports-intermediaries-with-bridging-finance-resource - **Keywords**: Precise, Alan Kimber, bridging finance, bridging finance guide, broker guide to bridging finance, specialist lending, regulated bridging loans, unregulated bridging loans > Resource covers auction purchases, refurbishments and developer exit scenarios Precise has launched a new guide to bridging finance for intermediaries, designed to help brokers identify when it could be suitable for clients facing time-sensitive transactions. ‘Bridge it. Everything you need to know about bridging finance’ was created to help brokers understand the role short-term finance can play across a range of lending scenarios. The lender said the launch comes as brokers operate in a more selective lending environment than ever. Precise pointed to recent data from the BDLA which suggested that the market entered a more measured phase in Q1 2026 , with applications falling from £11.7bn in Q4 2025 to £9.9bn and completions reducing from £2.5bn to £1.8bn over the same period. The resource explores a range of common bridging scenarios, including purchasing a new property before selling an existing one, auction purchases, refurbishment projects, change-of-use cases and developer exits. It also explains key aspects of bridging finance, including regulated and unregulated lending, loan terms, interest options and exit strategies. Drawing on Precise’s experience across both regulated and unregulated bridging, the guide aims to highlight the role specialist lending can play where speed, flexibility and a clear exit strategy are important considerations. Alan Kimber, head of bridging at Precise (pictured above), commented: “Brokers are working with a growing range of client circumstances, many of which require a flexible and pragmatic approach to funding. “Whether a client is looking to secure a property quickly, bridge a gap between transactions or unlock value from an existing asset, having access to the right specialist finance solution can make all the difference. “We created this resource to help brokers understand where bridging could be an appropriate solution and give them the confidence to have more informed conversations with their clients.” --- ## HREF lends £7.6m against Hertfordshire industrial assets - **Author**: Tara Sammons - **Date**: 3 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/href-lends-76m-against-hertfordshire-industrial-assets - **Keywords**: Hilco Real Estate Finance, HREF, Charlie Job, Hertfordshire industrial assets, Hoddesdon industrial property, bridging loan, commercial real estate finance, industrial asset refinance > Investor will align rental income with market levels before seeking longer-term finance Hilco Real Estate Finance (HREF) has completed a £7.6m bridging loan against two industrial assets in Hoddesdon, Hertfordshire. The 18-month facility will be used to refinance an existing loan, enabling the private investor to undertake a comprehensive rent review process with the occupier to bring rental income in line with current market levels. Once the rent review is complete, the investor will seek a term loan refinance. The borrower is a returning client to HREF, having successfully repaid a previous loan at maturity. The two industrial assets are part of a wider trading estate to the east of Hoddesdon town centre. Totalling 75,500 sq ft, both properties are occupied by the same company, a metal distributor. Charlie Job, director at HREF, said: “This transaction highlights HREF’s ability to move quickly and deliver flexible capital solutions for experienced borrowers. “The facility is secured against two well-located industrial assets in an established South East distribution market and provides the borrower with the time and certainty needed to perform some asset management and then progress its longer-term refinancing strategy. “We are pleased to have supported a returning borrower and look forward to seeing the business plan delivered.” --- ## Pallas Capital secures £200m funding line to boost UK lending growth - **Author**: Tara Sammons - **Date**: 2 September 2026 - **Section**: Funding Line - **URL**: https://bridgingandcommercial.co.uk/pallas-capital-secures-200m-funding-line-to-boost-uk-lending-growth - **Keywords**: Pallas Capital, £200m funding line, European debt fund, Ben Keenan, UK property finance, bridging finance, residential finance, mixed use finance > European debt fund partnership enhances Pallas' lending capacity Pallas Capital has secured a £200m senior funding line from a European debt fund, eight months after debuting into the UK market. The facility expands Pallas Capital's capacity to deploy capital across its UK product range, spanning residential, mixed-use and commercial bridging, light and heavy refurbishment, development exit, vacant land and ground-up development finance. The new facility adds to Pallas Capital's existing funding partnerships. Ben Keenan, executive director at Pallas Capital (pictured above), commented: "To secure a funding line of this size so soon is something we're immensely proud of. “It's a strong endorsement of the platform we've built, the calibre of the team behind it, and the discipline of our underwriting. “Institutional partners of this standing do not commit capital lightly, and their confidence gives our brokers and borrowers real certainty that we have the backing and the commitment to support them for the long term. "This facility significantly increases our firepower in the UK market. “It means we can say yes to more transactions, move with even greater speed and certainty, and continue building the long-term broker relationships that are central to how we do business." --- ## Aspen supports Cheshire home refinance with £1.9m bridge to let facility - **Author**: Tara Sammons - **Date**: 2 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/aspen-supports-cheshire-home-refinance-with-19m-bridge-to-let-facility - **Keywords**: Aspen Bridging, Aspen bridge to let, Alderley Edge property, Cheshire property refinance, bridge to let facility, Daniel Tame, property investment finance, serviced BTL finance > Refinancing package supports retention of newly refurbished home Aspen has provided a £1,935,000 bridge to let facility in 14 days to support the refinancing and retention of a super-prime property in Alderley Edge, Cheshire. Having been within the same family ownership for more than 30 years, the five-bedroom detached house has recently undergone a high-quality refurbishment and extension to include a tennis court, swimming pool, gym, studio and parking for 10 cars. The funds will be used to redeem the existing charge and give the borrower, an established property professional, time to secure a tenancy and stabilise rental income. The client intends to retain the property as a long-term investment alongside their existing portfolio. The bridge was finalised on a flat rate of 0.74% per month for an initial nine-month term. Thereafter the borrower has the option to transition, under the same facility documentation, onto a serviced BTL period at 6.94% per annum for a further three years. The product provides a clear pathway to long-term finance at a time to suit the owner. The application was taken from start-to-finish by Daniel Tame, underwriter. Daniel commented: "Our bridge to let product delivers a clear and practical route between short-term and long-term finance. “The ability to provide a rapid bridge, together with clearly defined exit options, gives the client the flexibility and certainty required to complete the next stage of their investment strategy." --- ## TAB delivers bridging loan to fund £815,000 property purchase in Iver - **Author**: Tara Sammons - **Date**: 2 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/tab-delivers-bridging-loan-to-fund-815000-property-purchase-in-iver - **Keywords**: TAB, bridging loan, Iver property purchase, Buckinghamshire property investor, AXK Finance, Sophie Meller, Gena Karaj, Waheeb Husaini > Investor secures funding for property purchase with potential extension and value-add plans TAB has completed a £611,250 bridging loan to help an experienced investor acquire a three-bedroom detached property in Iver, Buckinghamshire. The 12-month first-charge facility was provided at 75% LTV, with an interest rate of 0.8125% per month, and was arranged by specialist broker AXK Finance. The borrower purchased the chalet bungalow for £815,000. TAB structured the facility around the borrower’s multiple exit routes. The property is currently vacant and requires modernisation, with the borrower intending to apply for permission for a two-storey extension that would create three additional bedrooms. A Decision in Principle provided for a GDV of £960,000, with a net day-one loan of £539,000 and a further £50,000 available to fund the works. This would leave a shortfall of approximately £70,000, which the borrower has sufficient company funds to cover. If planning permission is not granted, the borrower intends to undertake a refurbishment costing between £30,000 and £50,000. A valuer has confirmed the property is in a lettable condition and the works will be primarily cosmetic — including updating the kitchen and bathroom, redecorating and replacing flooring. The borrower has provided a Decision in Principle from a BTL lender, based on a gross loan of £615,000 at 75% LTV. With the borrower’s established property portfolio, proven experience and multiple refinance options available, TAB said the exit strategies provided clear routes for repayment of the bridging facility. Sophie Meller, senior BDM for London at TAB, commented: “With an experienced property investor acquiring an asset with several potential routes forward, this was a strong case for bridging finance. “The borrower had a clear understanding of the property, the plans and the available exit strategies, which gave us confidence in the transaction. “The condition of the property also meant that the borrower was not dependent on completing the works before securing a refinance exit. “There was a straightforward BTL refinance route based on the existing property value, alongside the planning and extension option.” Gena Karaj, founder of specialist broker AXK Finance, said: “TAB understood the borrower’s experience, existing portfolio and the different options available for the property. “The ability to proceed on a 75% LTV basis allowed the purchase to complete while leaving the borrower with flexibility over whether to pursue the extension and refurbishment works. “This was a positive experience and I look forward to working with TAB again.” TAB's underwriting was carried out by Waheeb Husaini. --- ## FRP Real Estate Advisory structures four-lender refinance for Reading office conversion - **Author**: Tara Sammons - **Date**: 1 September 2026 - **Section**: Case Studies - **URL**: https://bridgingandcommercial.co.uk/frp-real-estate-advisory-structures-four-lender-refinance-for-reading-office-conversion - **Keywords**: FRP Real Estate Advisory, Reading office conversion, office to residential conversion, property refinance, commercial to residential redevelopment, Gareth Briggs, MT Finance, Landbay > The complex deal involved splitting the property into seven separate leases FRP Real Estate Advisory has structured a £1.1m refinance across four lenders and seven separate leases for a property refurbishment contractor, releasing equity from a completed office-to-residential conversion in Reading. The facility will help fund the client's next project, another office-to-residential scheme in the South East. The facility was arranged across four lenders, including MT Finance and Landbay, at 75% LTV. To work within individual lenders’ requirements, the property was split into seven separate leases — six residential and one ground-floor commercial unit — with the freehold retained in a holding entity and all four facilities required to complete simultaneously. The deal was led by Gareth Briggs, associate director at FRP Real Estate Advisory (pictured above), who had advised the client on a previous transaction. The client, an experienced contractor, self-funded the conversion of a former hairdresser’s with office space above, completing the scheme earlier this year before turning to the team to release equity from the finished asset. Gareth commented: “Coordinating four lenders across seven leases so everything was completed on the same day was a genuine structuring challenge, and it took real patience from everyone involved to get there. “ Each lender had its own requirements, so aligning the leases, the freehold structure and the timing took some careful planning behind the scenes. “ It’s great to be working with the client again after a previous deal together, and I’m looking forward to helping them get moving on their next project.” Legal support on the transaction was provided by Jury O’Shea LLP. --- ## Citation Guidelines When citing Bridging & Commercial articles, please include the article title, author name, publication date, and a direct link to the article on https://bridgingandcommercial.co.uk. ## Contact - Website: https://bridgingandcommercial.co.uk - Editorial: https://bridgingandcommercial.co.uk/contact-us - RSS Feed: https://bridgingandcommercial.co.uk/feed.xml