Specialist real estate lender Pivot has successfully completed a funding package comprised of three loans for a residential development in Denby Dale, West Yorkshire.

The £6.5m facility is uniquely structured to encompass three distinct loan types within a single transaction—a development exit bridge, part-complete development loan, and ground-up development facility.

This innovative funding solution enables the borrower to refinance an existing lender, support the completion of partially built units, and provide capital for the new construction of a 34-home residential development.

The case was introduced by a broker who chose Pivot because of its ability to structure the deal as three transactions across the different loan types to maximise leverage and consider the varying stages the site was in. 

The funding package was structured as follows:

• £1.9m development exit bridge – Secured against eight completed properties at 75% LTV with a 12-month loan term. The purpose of this loan is to refinance and maximise liquidity against the completed units ready for sale.
• £3m part-complete development loan – Secured against nine units at 67.2% LTGDV with an 18-month loan term to complete the semi-constructed units.
• £1.5m ground-up development loan – Secured against four new homes at 68% LTGDV with an 18-month loan term. This part of the facility funds the construction of the new units, ensuring seamless project progression.

This holistic approach ensures that the borrower can efficiently manage sales, complete construction phases, and maintain momentum in delivering high-quality homes.

The lender has cultivated a reputation for deal structuring that considers the true SME developer experience—several of the Pivot team have built and sold properties and have a genuine understanding of the inherent opportunities and pitfalls that come with the job.

Andreas Yianni, Commercial Director at Pivot Finance, said:

“This transaction highlights our ability to shape funding solutions that address multiple stages of a development in one seamless package.

“By incorporating a blend of development exit, part-complete, and ground-up funding, we have provided the borrower with a flexible and strategic solution to support their project through to completion.

“It’s a great example of how we tailor our lending to meet the real-world needs of developers.”

Pivot has enjoyed an incredible start to the year with as raft of new hires, increased funding capacity, and a vocal commitment to supporting ambitious SME developers who need reliable bridging and development finance to bring forward their sites. 

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