United Trust Bank (UTB) Bridging has completed a £5.2m regulated developer exit bridging loan to refinance a recently completed £12.75m country estate in the Home Counties.
The facility, introduced by Paul Atkinson, founder of Forecast Finance, enabled the borrower to refinance an existing development loan and repay unsecured debt used to finish high-specification interior works.
The 12-month term gives the owner time to market the 10,000 sq ft home, set within 12 acres, and achieve the best possible sale price.
The case was managed by Gemma Roberts, business development manager at UTB Bridging, who arranged an introductory call between Atkinson, the borrower and the bank to fully understand the client’s background and objectives.
Louise O’Calaghan, bridging underwriter, led the assessment process, carrying out due diligence on the valuation and marketability of the property and structuring the loan to meet the borrower’s requirements.
Atkinson said: “Right from the start, working with Gemma and Louisa was a real pleasure. Although there were a few hurdles along the way, UTB’s flexible and commercial approach helped keep everything on track and ensured a smooth process.
“This successful outcome is a great example of how Forecast Finance supports clients with the expertise needed to navigate even the most complex transactions.”
Roberts said: “This was a great case to work on and it was a pleasure to work with Paul in delivering a great solution for his client.
“This deal is an excellent example of the breadth of opportunities where regulated bridging can provide the right solution.
“By taking the time to fully understand the borrower’s circumstances and future plans and working closely with Paul and Louise we were able to deliver a substantial facility that gave the client certainty and time to maximise the value of their exceptional property.
“It’s another reminder of how UTB’s collaborative approach and access to knowledgeable underwriters combine to help us deliver great outcomes.”
