United Trust Bank (UTB) Bridging has completed a £5.2m regulated developer exit bridging loan to refinance a recently completed £12.75m country estate in the Home Counties.
The facility, introduced by Paul Atkinson, founder of Forecast Finance, enabled the borrower to refinance their existing development loan and repay unsecured debt used to complete high-specification interior furnishing and dressing. The 12-month term gives the owner time to properly market the unique 10,000 sq ft home, set in 12 acres of grounds, and achieve the best possible sale price.
The deal highlights UTB’s flexibility and expertise in handling large, regulated bridging cases. Although many regulated loans are typically associated with chain breaks, auction purchases or downsizing, UTB continues to support a wide variety of borrower circumstances.
Deal summary:
- Loan amount: £5.2m
- LTV: 52% of valuation
- Loan type: 12 Month Regulated Bridge
- Introducer: Paul Atkinson, Founder – Forecast Finance
The case was managed by UTB Bridging BDM Gemma Roberts, who arranged an introductory call between Paul, the borrower and UTB to fully understand the client’s background and objectives. Bridging Underwriter Louise O’Calaghan played a key role in assessing the proposal, undertaking detailed due diligence on the valuation and marketability of such a substantial country home, and structuring the loan to meet the borrower’s requirements.
Paul Atkinson, Founder of Forecast Finance commented: “Right from the start, working with Gemma and Louisa was a real pleasure. Although there were a few hurdles along the way, UTB’s flexible and commercial approach helped keep everything on track and ensured a smooth process. This successful outcome is a great example of how Forecast Finance supports clients with the expertise needed to navigate even the most complex transactions.”
Gemma Roberts, Business Development Manager – Bridging at United Trust Bank, commented: “This was a great case to work on and it was a pleasure to work with Paul in delivering a great solution for his client. This deal is an excellent example of the breadth of opportunities where regulated bridging can provide the right solution. By taking the time to fully understand the borrower’s circumstances and future plans and working closely with Paul and Louise we were able to deliver a substantial facility that gave the client certainty and time to maximize the value of their exceptional property. It’s another reminder of how UTB’s collaborative approach and access to knowledgeable underwriters combine to help us deliver great outcomes.”