Positive Lending has completed a complex bridging loan worth £1.5 million.

The deal was designed to assist a client who is trying to remove a council restriction on planning for a residential property.

The client was introduced to Positive Lending from Glenn Fuller at Next Step Financial Solutions who found that mainstream lenders would not fund a case when the property needed to be split from one title to four as two of the proposed new titles had a tied restriction relating to how the properties could be sold.

The case was funded by Dragonfly Property Finance and the client was provided with a two-year solution to self-fund the property whilst applying to the council to remove the restriction and sell the units individually.

Paul McGonigle, managing director of Positive Lending, said: “This was not a straight forward case. Due to the complex nature of the restriction and the legal implications this could have to any lender we worked hard with our client