The new deal secured a lower rate than the client’s previous lending arrangements.

This latest deal follows a £626k development loan completed by the lender last week at 70% LTGDV, requiring detailed structuring and close coordination among all parties.

The deal featured a bespoke interest structure tied to letting uplifts, reflecting the scheme's temporary under-occupancy at the time of completion.

Funding 365's Light Refurbishment product funds up to 100% of works costs in arrears, capped at 40% of open market value.

The 10-month loan completed at 75% LTV, enabling the redemption of three existing facilities at the same time.

The scheme will deliver 17 mews houses, two bungalows, and 31 parking spaces.

Development finance totalled over £36m across Haywards Heath, Hastings, and Southampton.

The bridging facility totalled £1.275m and was structured at 75% LTV over 12 months.

The loan completed in just three weeks from credit approval to legal completion.

The 38,512 sq ft building sits on a 2.53-acre site and generates about £469,000 in annual rental income.