Pivot has completed a funding package consisting of three loans for a residential development in Denby Dale, West Yorkshire.

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

The 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 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.

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.”