Specialist real estate lender Pivot has provided £6.5 million in funding to support a residential development in Denby Dale, West Yorkshire. The package combines a development exit bridge, a part-complete development loan, and a ground-up development facility, allowing the borrower to refinance an existing lender, complete partially built units, and fund new construction within a 34-home project.
The £1.9 million development exit bridge is secured against eight completed properties at 75% loan-to-value with a 12-month term, enabling the borrower to refinance and increase liquidity. The £3 million part-complete development loan is secured against nine units at 67.2% loan-to-gross-development-value with an 18-month term, providing funds to finish semi-constructed homes. The £1.5 million ground-up development loan, secured against four new homes at 68% loan-to-gross-development-value with an 18-month term, supports the construction of additional units.
The deal was introduced by a broker who selected Pivot for its ability to structure the financing as three separate transactions, maximising leverage while accommodating the different stages of the project. The lender’s tailored approach allows the borrower to manage sales, construction, and cash flow without disruption.
Pivot has continued its strong start to the year with new hires and increased funding capacity, reinforcing its commitment to supporting SME developers with flexible bridging and development finance solutions.
