Cynergy Bank completes first bridging deal of 2025

By Bridging Loan Directory 10th February 2025

Cynergy Bank, a leading UK challenger bank, has completed its first deal of 2025 under its enhanced bridging finance offering.

The Bank has provided a £2.1 million development exit facility to a real estate developer in Hampshire, secured against a development of 7 houses.

It has been structured over 9 months at 75% LTV, priced at a variable interest rate of 0.87% per month with rolled up interest payable on a capitalised basis.

The facility was symmetrically structured to not only allow the developer sufficient time to market and sell the houses, but also release some tied-up equity to repay third party investors.

This deal represents Cynergy Bank’s appetite to support a variety of transactions, and its entrance into the short-term lending market.

Asim Shirwani led the bridging finance deal, which acts as a short-term flexible solution to the Hampshire-based lender.

Asim Shirwani, Director of Originations for Bridging, Cynergy Bank, commented:

“I’m particularly pleased with the completion of this facility as it marks the start of our journey into the short-term lending arena.

It also underlines our collective expertise and strong appetite for bridge loans in the somewhat underserved £2m – £20m debt space for property purchases, refurbishments and stabilisation to sell or hold.”