Pivot

Who are Pivot and what do they do?

Originally incorporated in 2012, Pivot has evolved to become a well-respected specialist in both unregulated bridging and development funding.

From the outset the Pivot team set out to be approachable but at the same time highly professional, an ethos that holds as true today as it did nearly ten years ago.

By employing the best people, data and technology, Pivot can provide certainty in its lending offering and works in a truly collaborative way with brokers, borrowers, and a network of third parties to achieve the best possible results for all parties concerned.

Virtually all short-term lenders will claim that they are both fast and flexible, but for the Pivot team these attributes are seen as being something of a given within the specialist finance industry.

In truth, one can only go as fast as the transaction warrants and by adopting classic lean approaches with detailed analysis upfront, Pivot can ensure fast turnaround times with a degree of certainty, thereby ensuring loans invariably complete on the terms originally quoted.

• Perhaps best known for their ground up development expertise, Pivot will lend up to 70% LTGDV, 90% LTC and 70% Day one.
• Lending is spread right across England and Wales and Pivot welcome’s first-time developers with a strong build team.
• Furthermore, they lend off market value and welcome complex ownership structures, overseas trusts SPV’s etc.

Do Pivot offer bridging loans?

Whilst better known for development lending, Pivot also offer a diverse and competitive range of bridging loans against residential, semi-commercial and fully commercial buildings as well as land with planning.

What do Pivot’s interest rates look like on bridging finance? 

With rates starting from 0.64% per month on standard bridging and 0.69% per month on heavy refurbishment, Pivot’s rates are genuinely competitive.

Of course, there are cheaper headline rates available with other lenders, but these are not always quite what they seem, with rates that step up dramatically after 6 months, or deals that contain a variety of hidden fees.

Crucially, the Pivot team will always underwrite cases as fully as possible on day one, rather than hooking clients in with a headline rate that some lenders then seek to increase as further information “comes to light” during the processing of the loan.

What do I need to get a bridging loan with Pivot?

The Pivot team offer a fast, efficient, and straight-forward 6 stage process from initial enquiry right through to completion.

All cases are manually underwritten by highly experienced personnel with indicative rates offered promptly and, if accepted by the client, fully credit backed terms follow within 24-48 hours.

Once these terms have been accepted a dedicated underwriter will process the case through to completion by Pivot’s lawyers. Broker invoices are paid on the day of completion.

How do I apply and how easy is the process?

Simply submit an enquiry form via the Pivot website or send it by e-mail. A standard form can be downloaded from the “Downloads” section on the main Pivot site or brokers can use their own form.

The Pivot team also welcome contact by telephone if a client wants to discuss an enquiry prior to submission.

How long does the application process take and when do I get the money?

Pivot offer one of the most efficient processes in the industry. They constantly review internal procedures and deploy cutting edge technology to reduce turnaround times wherever possible.

Furthermore, they only work with the very best professional partners, but ultimately the speed of completion is often determined by the client themselves.

To use a cycling analogy, Pivot will pedal at least as fast, if not faster than the client, to ensure their deal is paid out at the earliest possible opportunity.

Does Pivot do any specialist bridging options for things like property, business, etc?

Pivot will consider bridging against unusual and high value single assets in London and across England and Wales that many other lenders will reject as “illiquid.”

From a development perspective they are regionally agnostic, and if a deal has merit they are as happy to finance a good ground up scheme in North Wales as they are a good one in North London.

They have also funded many first-time developers, taking the view that even the most successful developers started somewhere.

Furthermore, they work pro-actively with both mezzanine funders, sales guarantee specialists and others to develop initiatives that help developers minimise risk and maximise opportunities.

What are the pros and/or cons of a bridging loan with Pivot?

The Pivot team has a huge breadth of experience in both bridging and property development funding. It is truly multi-disciplinary with skills that include finance, business design, planning, asset management and much more besides.

The team ethos is to build long-lasting relationships and the success of this strategy is reflected by the high number of repeat clients they enjoy.

Pivot regularly fund the acquisition of land with planning for developers who want to then vary planning permissions, or even mothball a site to develop at a later date.

The initial bridge for the purchase can ultimately be replaced with full development funding when the client is ready to flick the switch and commence the build out.

Pivot do not offer regulated loans, focussing instead on constantly refining and improving their unregulated bridging and development offerings.