United Trust Bank has completed a £505,000 unregulated bridging loan for a property investment company to acquire and refurbish a four-bedroom detached house in Leigh-on-Sea, Essex.
The 75% loan-to-value facility enabled the borrower to purchase the property and undertake a £50,000 refurbishment programme over eight weeks. The property was then refinanced onto a buy-to-let mortgage and added to the company’s rental portfolio.
Transaction details
Bradley Moore, deputy CEO at Brightstar, which introduced the deal, said the lender instructed a valuation on the same day the application was received. Documentation was collected in person to expedite the underwriting process, allowing the purchase to complete on schedule.
The transaction comes as mortgage industry figures call for policy reform to address access challenges in the lending market. The bridging finance sector continues to serve property investors requiring short-term funding for refurbishment projects ahead of longer-term mortgage arrangements.
Bradley Illman, head of sales for bridging at United Trust Bank, said property investors require lenders who understand their timelines and can meet project deadlines. He noted that immediate valuation instructions and document collection can help maintain transaction momentum.
Market context
The buy-to-let sector has faced ongoing challenges, with new build housing listings falling to their lowest level since 2017, potentially creating opportunities for investors targeting existing stock for refurbishment.
The transaction follows a standard bridging-to-BTL mortgage refinancing model, where short-term facilities enable property acquisition and improvement before switching to longer-term rental finance. The eight-week refurbishment period aligns with typical timescales for light renovation projects in the residential investment sector.
