Ramsay & White structures £840k re-bridge to support delayed development exit

By Bridging Loan Directory 21st May 2026

Ramsay & White has arranged an £840,000 re-bridge facility to support the refinance of a delayed residential development project, giving the borrower additional time to complete works and sell two neighbouring properties.

The client originally acquired the properties using development finance with plans to renovate and sell both homes. However, delays relating to external and garden works pushed the project significantly behind schedule.

At the point the original facility was nearing expiry:

one property had been completed and launched for sale
the second remained at second-fix stage
approximately £70,000 of works remained outstanding
and no sale had yet completed on the finished unit.

Although the existing lender offered a six-month extension, the borrower required greater flexibility to complete the project and manage the sales process without unnecessary pressure.

Ramsay & White subsequently secured a new 12-month re-bridge facility which:

refinanced the existing loan
provided the remaining £70,000 required to complete works
and was structured against both the completed market value and residual value of the unfinished property.

The facility was agreed against:

a current market value of £1.1m
and a projected GDV of £1.25m.

Alec Witts, Partner at Ramsay & White, said:

“Development projects do not always progress exactly to schedule, particularly when unexpected delays arise during the build. In this case, the focus was on giving the client enough flexibility and time to complete the project properly rather than forcing rushed decisions around the exit.”

By restructuring the facility and securing a lender comfortable with both the completed and unfinished elements of the scheme, we were able to place the client in a much stronger position moving forward.”