Case study 1

Product: First charge commercial refurbishment bridge

Security: Arcade of shops with residential units above

Gross Loan: £757,000

LTV: 55.23%

Term: 9 months

Borrower Type: Individual

Purpose: The borrower wanted to use the loan to refurbish the units with the goal of attracting new tenants.

Exit: Refinance via long term commercial mortgage

Key Points:

  • Pivot lent against the current value of the assets, including those that were undergoing refurbishment.
  • Pivot provided the loan in two tranches.
  • It was also a condition that the borrower provided regular updates and photos of the refurbishment.