The funding covered a shortfall of over £2.2m, including SDLT, after a family gift was withdrawn.

The auction property was purchased for £100,000, with a 10% deposit at stake.

The Sunderland development covers 9,000 sq ft, with a final GDV exceeding £1.7 million.

The average completion time for bridging loans dropped to 43 days in 2025, matching the fastest turnaround since 2017 and marking the third consecutive annual decline.

The £3.995m loan is backed by assets with a combined market value of £6.7m, reflecting a 60% LTV structure.

Development finance confidence peaked mid-year as brokers searched £70bn in loans.

The bank agreed the facility at 70% LTV, equating to 77% of the purchase price for the vacant commercial property.

Somo's new product offers up to 24 months with no monthly payments, giving landlords time to stabilise income.

LendInvest can now fund individual bridging projects of up to £15m.

The loans were issued at a fixed rate of 1% per month over 12 months at 65% LTV, with repayment as the exit strategy.