Specialist lender SDKA has completed a £1.5m portfolio bridging loan involving 18 tenanted properties in Barnsley, South Yorkshire.
The deal required detailed structuring and cross-party coordination to facilitate a timely and cost-efficient solution for the borrower.
Brokered by Credicus, the deal enabled the developer to clear a high-interest facility and access capital to complete works on their latest project.
The bridging facility – comprising £1.3m to refinance existing debt and £200,000 for development costs – was structured to support the transition period ahead of a long-term refinance with an exit bank.
Working proactively with the future lender, SDKA arranged in-person valuations across all 17 residential and one commercial asset in the portfolio, selecting a surveying firm approved by both lenders.
The properties, held across two companies and personal names, had a combined value of £2.2m.
The deal was agreed at 68% LTV on a flat rate of 1.05% over a 12-month term, with three months of retained interest.
To facilitate the arrangement, SDKA secured third-party legal charges, alongside a Debenture and personal guarantees (PGs) to protect the lender’s position.
Annabel Crawshaw, director of operations at Credicus, said: “SDKA has a very pragmatic approach to bridging.
“Each application is approached with a customer-first mindset and a level of flexibility and foresight to ensure the borrower is in the best position from completion through to exit.”
SDKA managing director Kunal Mehta (pictured) added: “I received the call from Annabel while on holiday, and I immediately had the team delve into the project to completely understand all its intricacies.
“Working with the exit lender from the off made eminent sense, and in the long run puts the applicant in control.”
SDKA lends across England, Wales and Scotland, providing short-term finance on residential, semi-commercial and commercial properties, with rates from 0.85% pcm, LTVs up to 75%, and loan sizes up to £10m.
