The specialist bridge lender has closed a £6.7m loan to one of Newcastle upon Tyne’s leading family-owned property developers.

The project forms part of a larger scheme, with phase two consisting of 16 newly built, three-bedroom semi-detached houses.

The new development, located in the city's Knox Court, is set to be Wales’ first co-living scheme.

The total loan facility represents 60% LTGDV with a 15-month term

The 70% LTGDV facility is for a term of 20 months, priced at 5.65% plus base rate

Broker SPF Private Clients has arranged a £26.8m development loan for Bicester Motion on the 444-acre future mobility estate in Bicester, Oxfordshire.

The case was completed within the required timeframe despite the applicant changing the lead company name at the eleventh hour.

Funding from the specialist development finance lender will be used to develop 9 flats for sale on the open market.

The client was able to secure a 75% LTV bridging loan at 0.86% after Norton approached specialist lender, StreamBank.

The £6.4m refinance enabled the borrower to meet a critical deadline and unlock liquidity for future acquisitions.