United Trust Bank (UTB) Bridging has completed a £505,000 unregulated bridging loan to help an experienced property investment and development company acquire and refurbish a detached family home in Leigh-on-Sea before refinancing onto a buy-to-let mortgage.
Bradley Moore, deputy CEO at Brightstar, introduced the deal. The 75% LTV facility enabled the borrower to purchase the four-bedroom property before undertaking a £50,000 light refurbishment programme, improving it to a high standard for the rental market ahead of adding it to the company's growing buy-to-let portfolio.
Speed and agility mattered on this deal, so UTB's Bradley Illman instructed the valuation on the same day the application was received. To avoid unnecessary delays, he also collected the required documentation from Brightstar in person, helping the case move quickly and efficiently through underwriting.
The purchase completed on schedule. Following the eight-week refurbishment programme, the borrower refinanced onto a buy-to-let mortgage, releasing the bridge and freeing the business to focus on its next investment opportunity.
Key details of the transaction include:
- A 75% LTV bridging facility of £505,000 to fund the property purchase
- A £50,000 light refurbishment programme completed over eight weeks
- Same-day valuation instruction to keep the case moving quickly
- Refinance onto a buy-to-let mortgage following completion of works
"Speed and certainty are vital on refurbishment projects like this, but so is working with people who genuinely want to help," said Bradley Moore, deputy CEO at Brightstar. "Brad and the team at UTB were proactive throughout, keeping the deal moving and finding practical ways to avoid delays. That commitment made a real difference and helped our client complete a successful project."
Bradley Illman, head of sales for bridging at United Trust Bank (pictured), said the case reflected the lender's focus on responsiveness. "Property investors need a lender who understands the pace they work at and is prepared to do whatever it reasonably can to help them meet important deadlines," he explained.
"Sometimes it's the small things that make the biggest difference, whether that's instructing a valuation immediately or simply getting out of the office to collect documents if it helps keep a deal moving quickly."
He added: "Our focus is always on providing a responsive, relationship-led service that gives brokers and their clients the confidence to act quickly when the right opportunity comes along."
If you’re exploring bridging or development finance, get in touch and we can connect you with the right lender.
