The funding enabled the client to refinance its original development facility while allowing time to execute a dual-track strategy of unit sales and long-term lettings.

The facility supports the acquisition of the freehold of the building, conversion and construction costs, S106 and CIL liabilities, professional fees, interest and a 4-month VAT...

Both homes are anticipated to open in early 2026 and will deliver 169 beds to an area experiencing a chronic shortfall of high-quality, new purpose-built care homes.

This latest deal follows the completion of a second charge bridge for a retirement home in Cyprus earlier this month

The new product features loan sizes between £500k - £4m for residential and mixed-use asset classes.

This latest deal follows Recognise Bank’s recent completion of a £1.6m bridging loan in Basingstoke and a £1.3m bridging loan in Liverpool’s Fabric District.

The office-to-residential conversion in Radstock helped transform underutilised space into quality homes.

The loan, provided at 70% LTV on a 12-month term, is expected to be repaid through the sale of the property.

The development comprises nine three and four-bedroom homes on the site of a former scrapyard.

Hampshire Trust Bank’s Bridging Finance team has successfully delivered a £3.2m development exit loan to support a high-value residential scheme in York.