Overview
\nHampshire Trust Bank (HTB) successfully delivered an £8.5m bridging facility to refinance a residential development site in Salford. The funding enabled the borrower to exit an existing facility under significant time pressure, while maintaining momentum on a major £113m GDV scheme as it progresses towards Gateway 2 ahead of development funding and delivery.
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The Challenge
\nThe borrower, an experienced UK developer, was approaching the end of their existing facility term and needed to refinance quickly to avoid renewal costs and disruption to the project timeline.
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Key challenges included:
\nThe site had full planning permission for 365 apartments and ground floor commercial space, forming part of a wider multi-tower development in Salford Quays, making certainty and speed essential.
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The Solution
\nHTB structured a short-term £8.5m bridging facility tailored to the borrower’s needs.
\nKey features of the deal:
\nTo meet the deadline, HTB:
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Execution
\nThe transaction was introduced by Jack Medicott, Partner at Word on The Street, with close collaboration between all parties to ensure seamless delivery which enabled the deal to complete within just one week of issuing the offer.
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The Outcome
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What This Demonstrates
\nSpeed & Certainty
\nHTB’s ability to move from offer to completion within one week highlights its capability to deliver under highly compressed timelines.
\nCollaboration
\nClose alignment between HTB, the broker and other stakeholders ensured the transaction progressed without delay.
\nPragmatic Underwriting
\nA solutions-focused mindset and early decision-making helped navigate complexity and maintain project momentum.
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Client & Partner Feedback
\nHenry Manley-Cooper, HTB:
\n“This was a time-critical refinance on a significant scheme, where the borrower needed clarity and certainty within a very short timeframe. By aligning early and working closely with all parties, we were able to maintain momentum and complete within one week.”
\nJack Medicott, Word on the Street:
\n“HTB understood both the urgency and the complexity of the transaction and took a pragmatic, solutions-focused approach. Completing within one week ensured the client could move forward with confidence and without disruption.”
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Conclusion
\nThis case highlights HTB’s strength in delivering fast, structured bridging solutions for complex development scenarios. By combining speed, collaboration and pragmatic underwriting, HTB ensured a time-sensitive refinance was completed efficiently, allowing the borrower to stay on track and progress towards the next stage of a major scheme.
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