‘No two deals are ever the same’

By Tony Sanchez 5th March 2025

In our latest five minute interview, Tony Sanchez speaks to Simon Nicolaides, Managing Partner at PNN LAW.

PNN Law is a boutique, partner-led law firm providing commercially astute, solution-focused legal advice.

Specialising in bridging finance, real estate transactions, and secured lending, they work hand in hand with lenders, investors, and borrowers to structure deals efficiently.

What is the best thing about being in the bridging finance business?

The variety, no two deals are ever the same.

That and the ability to build solid lasting relationships with all sorts of people in this industry; brokers, lenders and borrowers.

What keeps you focused?

Deadlines definitely keep me focused.

Knowing that we have to be completed by a certain time keeps you sharp and makes you look for the most efficient way to communicate and get deals done.

What qualities do you look for in your employees or colleagues?

Commerciality and being business savvy, someone who thinks outside of the box and can communicate what they need as effectively as possible.

I want people at PNN to be pushing boundaries as often as possible, questioning why we do something will only make us stronger.

Are you an optimist or a pessimist?

Depends what day of the week it is! I would say I have a healthy dose of both, you must as a solicitor.

Keeping a client advised from the outset on timescales and explaining issues you may foresee can be seen as pessimistic, but it is about being realistic in a deal and keeping the client updated as much as possible.

Optimism in this instance is about being able to communicate and get the deal done quickly whilst being as transparent with the client as possible.

What did you want to be as a child?

I wish it was something cool like a cowboy or an astronaut but, according to my mum, I came home from school one day as a kid and told her I wanted to be a lawyer and that is all I have ever tried to do….

I would say though, that if I could draw I would probably be a tattoo artist!

What will be the greatest challenge facing the bridging and development finance industry in the coming months?

I think it may be linked to liquidity and risk.

Especially based on a market which is becoming more and more uncertain.

Lenders are tightening criteria, Bank of England’s stress-testing exit strategies more aggressively, and pricing in additional risk as capital availability becomes more selective.

This is making short-term finance harder to secure from the mainstream lenders, particularly for developers and investors reliant on competitive leverage.

Refinancing is also becoming trickier, with mainstream lenders pulling back and property sales taking longer to complete (with data suggesting that completions take on average of 20+ weeks in 2025).

As a result, borrowers need to present rock-solid security, realistic exit strategies, and well-structured deals to stand a chance of getting funding over the line.

At the same time, regulatory scrutiny around responsible lending is increasing, putting even more pressure on lenders and borrowers alike to ensure compliance and smart deal structuring.

Like anything, where there is challenge there is also opportunity, to give a borrower the best chance at taking advantage they must be prepared, understanding what lenders want, anticipating potential roadblocks, and presenting deals that make commercial sense.

It’s a challenging landscape, but well-prepared borrowers…and their equally well-prepared solicitors will still find opportunities.

As mainstream lenders exercise more caution, I think bridging finance is becoming an increasingly valuable solution for borrowers needing fast, flexible funding.