Land with Planning
Leeds
£850k
Loan Amount
9 months
Loan Term
18 days
To Completion
0.95% a month
Rate
60%
LTV
The Challenge
A developer had identified a prime site in south Leeds with full planning permission for 10 luxury dwellings. The site was being sold by a receiver who demanded completion within 21 days. The developer had already been turned down by three lenders — two said the site was too small, one wouldn't lend on a receivership sale.
The Complexity
Receivership sales come with additional legal complexity — the title needed careful review and the receiver's solicitors were notoriously slow. The site also had a restrictive covenant that needed to be addressed before any development could proceed. The developer needed the bridge to hold the land while they arranged full development finance with our sister company.
How We Structured It
We approached a specialist private-fund land lender we work with who had completed receivership purchases before and understood the timeline pressure. We provided a comprehensive deal pack on day one — site plans, planning consent, comparable evidence, and the developer's track record — so the lender could make an informed decision immediately. We also instructed a solicitor experienced in receiver sales who could manage the title complexities in parallel with the valuation.
The Outcome
Completed in
18 days
Rate achieved
0.95% a month
Total finance cost
£100,356
Result
Site secured, now in development
Similar Situation?
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