Strength Over Score: A Northamptonshire Re-Bridge Delivered Despite Adverse Credit and a Down-Valuation

This re-bridge showed exactly why we look beyond the credit score and consider the strength of the full case. The borrower needed to refinance an existing facility on a mixed-use property in Northamptonshire. The asset comprised a commercial unit, due to be vacant during our term with new tenants confirmed, plus a tenanted two-bedroom flat and a tenanted one-bedroom flat. There were no works required, simply a re-bridge with a clear plan behind it.

Although the borrowing entity carried some slight adverse credit, we took confidence from the wider picture: an experienced borrower, strong underlying security, a refinance exit already lined up and a well-packaged case introduced by a broker within the Fiducia Commercial Network.

A valuation had previously been carried out for another lender, so we instructed a readdress to keep the process moving. The reviewed open market value came back at £425k, a modest revision on the original figure. As the borrower had not maxed out the LTV, we revised the terms and increased the LTV to 66%, ensuring the borrower could still access the funds required.

Structured over a nine-month term at 1.02% per month, the facility delivered a net loan of roughly £272k. This repaid the existing charge and released surplus funds towards part of the debt owed to the investor.

The case completed using dual legal representation with full title insurance, helping keep the legal process efficient. A refinance was already lined up as the exit.

This case highlights how a well-structured re-bridge can work when there is a credible plan, strong security and a lender willing to assess the case on its merits. Alongside the support we offer existing borrowers, we will always consider new re-bridge enquiries where there is a plan we can support.