Bridging Finance Case Studies Hull

The borrower picked up a vacant two-bed terrace off Hessle Road in HU3 at a regional auction with a 28-day completion deadline. The property had been let for a decade and came back to the landlord in tired condition: damp readings flagged in the legal pack, dated wiring, no working kitchen. High-street BTL lenders would not touch it as-is.

We had the auction pack on our desk by 9am the next morning. Indicative terms came back from two panel lenders inside 24 hours. The borrower signed the better of the two and we packaged the file the same week. Valuation landed inside 6 working days and legals ran in parallel using title insurance. Completion landed 11 working days after the hammer fell, with 17 days of the auction clock still on it.

A portfolio landlord bought a three-bed terrace in HU8 at auction with a sitting tenant in place on a rolling AST. The property was in liveable condition but tired: redecoration needed, no central heating service, gardens neglected. The exit was a clean BTL refinance once the tenant moved on or signed a new AST at a market rent.

We packaged the case to two lenders with appetite for tenanted residential security. Indicative terms came back within 24 hours and the borrower signed the better of the two. Valuation cleared inside 5 working days and the case completed 13 working days after the hammer fell. The tenant accepted a new AST at a 22% higher market rent during the works programme.

A trade-led investor secured a vacant two-bed end-terrace at a regional auction in HU9 Marfleet at the low end of the local price band. The property needed a full strip-out, new kitchen and bathroom, replacement boiler and windows, and an EPC uplift from F to D. Standard mortgage finance was not available given the condition.

We pitched the case as a refurb-to-flip bridge. Indicative terms came back within the working day. The lender funded the purchase at 70% LTV against open-market value with the £21,000 works budget released in two tranches against progress photos and a brief monitoring survey. Completion landed 14 working days after the hammer fell.

A regional landlord bought a tired four-bed terrace in HU5 The Avenues, a five-minute walk from the University of Hull, to refurbish to a licenced four-let HMO. The works were cosmetic only: replacement kitchen, new bathroom, fire-doors and interlinked alarms to HMO standard, redecoration throughout, and EPC works to lift the property to a C rating for licence compliance.

We pitched the case to three panel lenders and settled on a 9-month bridge at 72% LTV against open-market value, with the £22,000 works budget released in two tranches. The HMO licence application ran in parallel through Hull City Council. Works completed in 11 weeks and the licence was granted at week 14.

An experienced refurbishment investor bought a five-bed Victorian terrace off Hessle Road in HU3 that had been carved into 1980s bedsits and run badly for years. The plan was to strip the bedsit partitions, restore the original family-house layout, replace the entire services run, and refinance onto a higher-value BTL at completion. Standard refurb finance was not the right product given the structural element.

We packaged the case to a heavy-refurbishment specialist on the panel who accepted the layout change with a conditional release of the works tranche. The 12-month bridge funded the purchase at 65% LTV with the £52,000 works budget released in three stage payments against monitoring surveyor sign-off. Works completed at month 9.

A retired couple in their late 60s wanted to complete on a smaller Hessle bungalow before their larger Cottingham home in HU16 finished going through the sale process. The buyers on the existing home were ready in principle but the chain had two delays further down. The couple stood to lose the onward purchase if they could not exchange within 5 weeks.

Because the security was their existing owner-occupied home, the bridge was regulated. We introduced them to one of our FCA-authorised partners who carried out the regulated activity. The packaging team handled the case file and the lender quoted indicative terms inside 24 hours at the regulated rate band. Funds completed in 13 working days against the existing home as security, and the onward purchase exchanged on time.

A family of four in HU10 Willerby had agreed an onward purchase of a four-bed in Anlaby with a school-place trigger tied to September entry. Their existing home had been under offer twice; the second buyer pulled out three weeks before the planned exchange. The Anlaby seller would not hold past the deadline.

Because the security was the existing owner-occupied home, the bridge was regulated and went through one of our FCA-authorised partners. Indicative terms came back inside 24 hours at the regulated rate band. The lender accepted the existing home as security at 65% LTV. Funds completed in 12 working days against the Anlaby exchange deadline.

A regional developer reached practical completion on an eight-apartment scheme in the Fruit Market regeneration zone off Humber Street near the marina, in HU1. The development facility ran at expensive dev rates and was 45 days from expiry. Three of the eight units had buyers under offer subject to contract but had not exchanged. The other five were on the market with one offer in negotiation.

We refinanced the developer off the dev facility onto a development-exit bridge at materially lower monthly cost. The case priced at 65% LTV against gross development value, term 9 months, with the lender accepting individual unit sales as the redemption mechanism. The packaging covered the build cost reconciliation, marketing strategy, and individual unit valuations against comparable evidence in HU1.

A landlord owned a Whitefriargate / King Edward Street retail unit in HU1 with a sitting commercial tenant on a five-year lease with a tenant break option 6 months away. The upper two floors were vacant ancillary space with permitted-development potential for residential conversion. The owner wanted breathing room to negotiate the break, refurbish the upper floors and stabilise the income before refinancing onto a long-term commercial mortgage.

We arranged a 12-month bridge at 65% LTV. The lender took comfort from the retail income covering interest on a serviced basis, with the upper-floor vacancy priced in. We packaged the break negotiation and the permitted-development plan as part of the exit story. The retail tenant signed off the break and agreed a new 10-year lease at a 17% higher rent six months in.

An established Hull landlord owned a four-bed Hessle family home in HU13 with a low-LTV residential mortgage on it. He wanted to release £145,000 of equity to fund the deposit and works budget on a portfolio acquisition without remortgaging the first charge, which sat on a competitive fixed rate with two years left to run.

We arranged a 12-month second-charge bridge at 1.10% per month, sitting behind the existing first charge. The combined LTV came in at 65% of open-market value. The first-charge lender granted consent to second within 14 working days. The borrower used the released funds to acquire and refurbish a small portfolio of HU8 and HU9 terraces with a six-month BTL refinance plan.