- We delivered a £3.2m exit loan for 11 new apartments in York.
- The loan was restructured to accommodate a higher valuation and requests in the final stages..
- Our flexibility and tailored approach ensured the client’s objectives were met.
Introduced by Mark Ellis of Development Money, the loan enabled the client to repay existing development finance and release capital for their next project. Initially seeking £2.35m, the facility was restructured following a revised valuation and the inclusion of a £600k unit that had sold but not yet completed—resulting in a final loan size of £3.2m.
The property comprised 11 luxury apartments, with some units priced up to £1.7m. This required a considered approach, but we recognised strong local demand from downsizers looking for low-maintenance homes without compromising on space or character. The valuer supported this view, noting significant interest and sales achieved above asking price.
In the final stages, the borrower also requested to annex a parcel of land from the wider 12-acre site for future development. Working closely with the borrower, the broker, and the valuer, we adapted the facility to meet all requirements while remaining aligned with the client’s objectives.
Mark Ellis, Development Money, commented:
This was a challenging yet rewarding deal, and HTB’s ability to adapt at every stage made all the difference. Their expertise in bridging finance and their willingness to handle last-minute changes ensured the client’s objectives were met. It was a pleasure working with a team so committed to achieving the best outcome.
Barry Ireland, BDM, Bridging Finance, added:
This was a complex deal with several moving parts, particularly in the final stages. The nature of the property and the price point meant it needed a lender who could take a view and structure the right solution. We worked closely with Mark and the client to respond quickly to changes and make sure the loan remained aligned with the wider objectives. It’s a great example of how we support brokers with speed, flexibility and a genuinely tailored approach to more specialist schemes.
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