Top Tuesday Transactions

Episode 37 - Tuesday 27th October

£16.76m in Specialist Property Finance

Four Transactions. Over £16.76 million in completed specialist property finance.

This week's Tuesday's Top Transactions features four completed facilities totalling £16,763,500, delivered by Ortus Secured Finance, Pallas Capital, Lendco and Morpheus Lending.

From a £9.04m commercial portfolio refinance to a £7.5m bridging facility secured against a major redevelopment site in Tottenham, Episode 37 highlights the importance of flexible underwriting, experienced deal teams and understanding the wider circumstances behind complex property transactions.

The week's activity also includes refurbishment finance for borrowers living overseas and a 75% LTV residential auction purchase completed within a tight deadline.

While the facilities differ in size, security and purpose, they share a common theme: understanding the underlying asset, structuring finance around the borrower's requirements and establishing a credible route to repayment.

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Ortus Secured Finance Completes £9.04m Commercial Bridging Refinance

Transaction overview

Lender: Ortus Secured Finance
Facility: Commercial bridging refinance
Loan size: £9,040,000
Location: Southern England
Term: 12 months
Security value: £18.75m

Ortus Secured Finance completed a £9.04m commercial bridging facility to refinance a portfolio of three freehold properties across southern England, following an introduction from Curzon Financial.

The portfolio included two established residential park home sites in Dorset, providing a combined 327 pitches, alongside a third freehold property in Gloucestershire. Both operating parks were fully occupied and generated recurring pitch fee income.

With existing banking facilities approaching maturity, the borrower required refinancing while an agreed disposal of one of the park home sites remained subject to financial, tax and legal due diligence.

Ortus structured the facility to refinance the outstanding bank loans and overdraft facilities while releasing additional working capital.

The agreed asset sale formed the basis of the repayment strategy, with disposal proceeds expected to substantially reduce the bridging debt before the remaining balance was repaid.

The lender's assessment considered the portfolio's underlying strength, including the income generated by the operating parks and the security provided by the three properties.

The transaction demonstrates how commercial bridging finance can provide additional time and flexibility where an agreed exit exists but does not align with existing debt repayment deadlines.

Deal team

Mel Howard – Relationship Director, Ortus Secured Finance.

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Pallas Capital Provides £7.5m Commercial Bridging Refinance in Tottenham

Transaction overview

Lender: Pallas Capital
Facility: Commercial bridging refinance
Loan size: £7,500,000
Location: Tottenham, North London
Term: Six months
Loan-to-value: 50%

Pallas Capital completed a £7.5m commercial bridging facility secured against a former industrial site in Tottenham, North London, with planning permission for a substantial mixed-use redevelopment.

The six-month facility refinanced an existing bridging loan that had reached the end of its term.

The site comprises former industrial buildings, including warehouses and offices, with approved plans for 53 residential homes and 27 commercial units. The residential element includes 41 open-market homes and 12 affordable homes.

Introduced by Derek Bradstock, Managing Partner at BBA Finance, the transaction involved an experienced landlord and developer with a track record spanning acquisitions, renovations, conversions and new-build projects.

Given the nature of the security, Pallas needed to consider the site's existing use, approved planning permission and the legal and technical requirements associated with its proposed redevelopment.

Working alongside the broker and borrower, the lender structured a refinancing facility that accommodated these considerations while addressing the maturing debt.

The transaction highlights how specialist lenders can assess complex redevelopment opportunities by considering planning status, asset characteristics and borrower experience alongside the property's current use.

Deal team

Chris Wright – Senior Underwriter, Pallas Capital.
Derek Bradstock – Managing Partner, BBA Finance.

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Lendco Completes £120k Residential Refurbishment Finance Facility in North London

Transaction overview

Lender: Lendco
Facility: Residential refurbishment finance
Loan size: £120,000
Location: North London
Current property value: £300,000
Projected value following refurbishment: £450,000

Lendco completed a £120,000 residential refurbishment finance facility for a British expatriate living overseas and her husband, a foreign national.

The couple required funding to improve their mortgage-free residential property in North London, currently valued at £300,000.

The proposed works are expected to increase the property's value to approximately £450,000, representing a potential £150,000 uplift. The refurbishment is also anticipated to improve its Energy Performance Certificate (EPC) rating from D to B.

The borrowers' overseas circumstances required additional consideration during underwriting, including their residency status and international credit histories.

Working with Tom Gill, Bridging Sales Executive at Lendco, the team assessed the applicants' circumstances and structured a facility secured against their existing property.

Following completion of the works, the borrowers intend to refinance onto a longer-term product, subject to the updated valuation and applicable lending criteria.

The case demonstrates how specialist refurbishment finance can support borrowers with international circumstances while enabling improvements in property value and energy efficiency.

Deal team

Tom Gill – Bridging Sales Executive, Lendco.

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Morpheus Lending Completes £103.5k Residential Auction Bridging Loan in Staffordshire

Transaction overview

Lender: Morpheus Lending
Facility: Residential auction bridging loan
Gross loan size: £103,500
Location: Staffordshire
Purchase price: £138,000
Loan-to-value: 75%
Term: 12 months
Completion: 19 days from underwriting submission

Morpheus Lending completed a £103,500 residential bridging facility to support the purchase of a Staffordshire property acquired at auction for £138,000.

The borrower required funding within the auction's 21-day completion deadline, with the facility structured at 75% LTV.

Before the borrower successfully bid, Morpheus carried out an automated valuation model (AVM) assessment to establish the property's value and provide early confidence around the funding available.

Refurbishment finance was initially considered. However, as the borrowers had sufficient capital to fund the planned improvements themselves, the lender proceeded with its 75% LTV purchase product.

This enabled the borrowers to maximise their day-one leverage while retaining their own funds for refurbishment.

Despite title issues arising during the legal process, the lender, broker and solicitors worked together to maintain progress towards the deadline.

The transaction completed 19 days after submission to underwriting, within the required 21-day completion window.

Following completion, the borrowers intend to undertake light refurbishment works before placing the property back on the market for resale.

The case demonstrates how early valuation work, flexible structuring and coordinated legal processes can provide greater certainty for borrowers purchasing residential property at auction.

Deal team

Matthew Feehan – Business Development Manager, Morpheus Lending.
Matt Mawdesley – CEO & Founder, Morpheus Lending.
Matt Hunt – Broker, Grand Union Finance.
Jasmin Knowles – Legal, Glaisyers.

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What this week's transactions tell us about the market

This week's transactions demonstrate how specialist lenders continue to support borrowers with complex property finance requirements, particularly where conventional lending criteria or repayment timelines may not accommodate their circumstances.

Across the four facilities, several themes stand out.

Refinancing Demand Remains an Important Driver of Activity

Both Ortus Secured Finance and Pallas Capital completed substantial refinancing facilities where existing borrowing was approaching, or had reached, maturity.

In each case, specialist bridging finance provided a solution that accommodated the borrower's wider commercial plans.

Ortus structured its facility around an agreed asset disposal, while Pallas supported a borrower progressing towards the next stage of a major redevelopment project.

These transactions highlight the importance of aligning lending structures with realistic repayment strategies rather than allowing existing debt maturity dates to dictate commercial decisions.

Underlying Asset Quality and Borrower Experience Matter

The £9.04m Ortus transaction was supported by income-producing park home assets, while Pallas Capital assessed a former industrial site with significant redevelopment potential.

Both cases demonstrate why specialist underwriting requires a broader assessment of the security, including income generation, planning status, asset characteristics and borrower track record.

Specialist Finance Can Accommodate International Borrower Circumstances

Lendco's refurbishment facility highlights the additional considerations that can arise when borrowers live overseas or have international credit histories.

By assessing the applicants' wider circumstances, the lender was able to support a refurbishment project expected to improve both the property's capital value and energy efficiency.

Early Valuation Work Can Improve Auction Certainty

Morpheus Lending's Staffordshire transaction demonstrates the benefit of establishing a property's value before an auction bid is successful.

By completing an AVM assessment early and structuring the facility around the borrower's available refurbishment capital, the lender helped provide funding certainty within a fixed completion deadline.

Flexible Underwriting and Execution Remain Key Differentiators

Whether refinancing a commercial portfolio, assessing a mixed-use redevelopment site, supporting overseas borrowers or resolving legal issues before an auction deadline, each transaction required a tailored approach.

The common theme is that specialist lending is about more than providing capital. It requires experienced teams capable of understanding the borrower's circumstances, assessing the security and delivering an appropriate facility within the required timeframe.

Why these Transactions Matter

Episode 37 highlights the range of requirements being supported across the UK specialist property finance market.

With £16,763,500 completed across four transactions, the featured lenders demonstrate how commercial bridging, refurbishment finance and residential auction lending can address different challenges for borrowers and property investors.

From substantial portfolio refinances to smaller residential facilities, the ability to combine practical underwriting with credible exit strategies remains central to successful lending.

If you've completed a notable real estate finance transaction and would like it featured in a future edition of Tuesday's Top Transactions, we'd love to hear from you.

Sharing successful deals helps showcase innovation across the market while providing valuable insight for brokers, lenders and property professionals following the latest lending activity.

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