The reputation Signature has built as a trusted and reliable short-term property finance provider has been a key factor in its ability to consistently attract the attention of established investors and developers.

Every client requires important lending decisions to be made quickly, but for those firms with extensive first-hand experience, this demand for efficiency is heightened further. Whilst increased client expectations will of course play a part in this, experienced developers generally have busy schedules with strict deadlines, and the success of other opportunities hinges on current projects running smoothly.

In recent months, an established, independent property investor/developer in Scotland approached Signature for a residential bridging loan worth £243,377 – funds that would be used to capital raise against an unencumbered asset. This was part of the client’s wider strategy to work up planning and change of use applications on their other assets.

Located in a small private residential development, the detached five-bedroom property had access to all the usual amenities and was a short travel from a major city centre with strong public transport links. As such, demand for the property was deemed to be strong and a GDV of £550,000 – £600,000 was set.

With plans to sell the subject property to its existing tenant in Q1 2024, a loan period of 12 months was judged to be enough time for the exit strategy to be followed. This estimation was further supported in comprehensive surveyor reports that suggested a sales and letting period of six months was needed.

As always, the necessary background and credit checks were conducted to ensure the client could complete the project as intended – this process was made simpler and more efficient by the fact they already had an extensive property portfolio and experience overseeing projects of this nature.

Overall, the deal represented an important opportunity for the already established developer – one that would allow them to further expand their portfolio whilst providing residents with much-needed housing solutions. From Signature’s perspective, it was another opportunity to support clients through the utilisation of their own industry expertise and resources.

Scott McClymont, Relationship Manager at Signature Property Finance, said:

“From the very outset, the passion and experience the client had was evident and it allowed us to agree the deal in its entirety within a month – ideal considering the need for efficiency.

“These are some of the key advantages that come from working with established investors and developers, as they tend to operate with an urgency and professionalism that makes the process even smoother. Of course, it helps when the developer has a clear vision for the project and an in-depth understanding of what is required to complete it.

“That was definitely the case here, as the proposal was well thought through and could be supported by the client’s strong track record and portfolio. Our ability to attract clients with this level of experience stands testament to the hard work we’ve produced over the years, perfecting our service offering so that all our clients are adequately supported.

“We are very much looking forward to working with the developer in the months ahead and hopefully this marks the start of a long and healthy working relationship together.”

The developer added:

“I’ve been very impressed at the level of professionalism Signature has shown throughout the process – they’ve been helpful from start to finish and have allowed us to progress the project without delays.

“There’s nothing more refreshing than to see a short-term property finance provider combine an eye for detail with a commitment to efficiency, usually you gain one at the expense of the other, but that hasn’t been the case here.

“I wouldn’t hesitate to recommend Signature’s services to any other developer in need of short-term property finance – they definitely will not be disappointed.”