Case Study: £1.365m Bridging Refinance Completed in 15 Days
When a development or bridging facility is approaching the end of its term, time becomes the enemy. If replacement finance isn’t in place before the existing loan matures, the borrower risks falling into default, with all the cost and damage that brings. This is one of the most pressured situations in property finance, and a case we completed recently shows how to resolve it calmly and quickly.
An experienced landlord came to us with an existing development finance facility secured against a semi-commercial property. The facility had a 12-month term, and only three months remained. They needed to refinance before it expired. We secured lender terms within 5 days and completed a £1,365,000 bridging facility in just 15 days from application to completion, comfortably ahead of the deadline.
All figures are real, and we’ve kept the client anonymous. This is one example of the kind of bridging loan we arrange for property investors across Manchester and the North West, particularly when a bridging loan exit strategy or a facility expiry drives the timeline.
The Deal at a Glance
| Client | An experienced landlord and property investor (anonymous) |
| Challenge | Existing development facility expiring, 3 months left |
| Amount secured | £1,365,000 |
| Loan to value | 70% |
| Security | A semi-commercial property |
| Finance type | Bridging refinance |
| Terms received | Within 5 days of application |
| Completion time | 15 days from application |
| Outcome | Refinanced before expiry, default avoided |
The Client
Our client was an experienced landlord and self-employed property investor, with an ongoing development finance facility secured against a semi-commercial property. As is common with development finance, the facility ran for a fixed 12-month term. By the time the client approached us, only three months remained on the term, and we had to find and complete a replacement facility before it expired.
The Challenge
With the existing development facility approaching expiry, the client needed suitable replacement finance within a strict timeframe. Two complications added to the deadline. First, the security was a semi-commercial property, which narrowed the field of lenders, as not every lender is comfortable with mixed-use security. Second, the client was self-employed, which some lenders treat more cautiously.
The overriding pressure, though, was time. The new facility had to be completed before the existing loan matured. If it did not, the client faced the real prospect of falling into default on the development facility, which would have been costly and damaging. Identifying the right lender quickly, and progressing the application efficiently, was essential.
What Was at Stake
- Falling into default on the existing development facility if the refinance completed late.
- The cost and credit damage that a defaulted facility can cause.
- A narrower field of lenders, because of the semi-commercial security and self-employed status.
- A hard, immovable deadline set by the existing loan’s maturity date.
Our Approach
We began with a thorough review of the client’s circumstances to match the case to the right lender the first time, rather than lose days on an application that would never fit. That review covered:
- Their experience as a landlord and property investor.
- Their self-employed status and financial position.
- The existing development finance facility and its expiry date.
- The semi-commercial nature of the property.
- The available security and the loan-to-value position.
- The tight completion deadline.
With that picture clear, we identified a lender whose criteria genuinely suited both the client’s circumstances and the semi-commercial property. We then prepared and submitted the application, presenting the case clearly and completely so the lender had everything it needed up front, which is what keeps a time-critical case moving instead of stalling on queries.
The Solution
The application progressed rapidly. Within just 5 days of submission, we received terms from the lender: a £1,365,000 bridging facility at 70% loan-to-value. Securing terms that quickly on a semi-commercial refinance is a direct result of choosing the right lender at the outset.
We then managed the case through the required due diligence, valuation and underwriting, keeping every party moving towards completion. Because the case had been presented properly and the lender was well matched, there were no avoidable delays. The entire process, from application submission to completion, took just 15 days. Our guide on how bridging finance works explains why a well-run bridging case can move this quickly.
The Outcome
The refinance completed before the existing development facility expired, which was the whole objective. The client avoided any risk of falling into default, replaced their maturing facility cleanly, and did so against a semi-commercial property that some lenders would not have entertained.
What We Achieved for the Client
- Secured £1,365,000 of bridging finance at 70% loan-to-value.
- Received lender terms within just 5 days of application.
- Completed the refinance within 15 days of submission.
- Refinanced the existing development facility before its expiry.
- Avoided the client falling into default on the existing facility.
- Secured finance against a semi-commercial property.
An Expert View from Faisal Rashid
A facility running out of term is one of the most stressful situations a property investor can face, and the clock is completely unforgiving. You can’t negotiate a maturity date.
What makes the difference in these cases is never luck. It is knowing quickly which lender will actually do the deal, then presenting the case so cleanly that nothing slows it down. Three months sounds like plenty of time, but for a semi-commercial refinance it is not. The clients who come to us early are the ones we can help most calmly.
Faisal Rashid, Founder of Westminster Finance. Former banker, MP and Mayor, with over 25 years in finance.
What This Case Shows for Other Investors
If you have a development or bridging facility approaching the end of its term, this situation is more common than you might think, and a few lessons stand out.
- Start early. As soon as you know your facility is maturing, start the refinance. Three months is tighter than it sounds for anything semi-commercial or complex.
- Lender selection is everything. In a time-critical case, applying to the wrong lender can cost you the days you do not have. The right first choice is the fastest route.
- Semi-commercial narrows the field. Mixed-use security is not something every lender will touch, so it pays to work with someone who knows which ones will.
- Presentation keeps it moving. A case submitted complete and clearly is a case that completes on time. Missing information is what causes delays.
Facility Approaching Expiry?
If your development or bridging facility is approaching the end of its term and you need to refinance before it matures, the earlier you speak to us, the more calmly we can arrange it. We specialise in fast, time-critical bridging and refinancing across Manchester and the North West, including semi-commercial and complex cases. Speak to our team today, and we will tell you honestly and quickly what is achievable.
