From last-minute let-down to locked-in exit: How we kept 25 homes moving

25 homes, weeks from the finish line

With 79 properties valued at around £34m, this team of seasoned developers and contractors know how to deliver on projects. Their latest scheme, 25 family homes in Market Drayton, was almost over the line, with just final works left and practical completion just weeks away, but with the finish line in view, their original exit lender suddenly withdrew at the eleventh hour.

A utilities connection delay had already extended timelines, and the incumbent lender’s facility was due – bringing real risk of penalties if the exit couldn’t be executed on time. And with complicated legal requirements around land swaps, overage agreements and tight timelines added to the mix, the right Bridging expertise was required to keep the project moving.

As Senior Regional Director Samuel Cousins puts it: “This was a high-quality developer facing a low-visibility problem: multiple moving parts colliding with an unforgiving deadline. Our job was to bring speed and clarity to a complex situation.”

Built for speed, delivered with confidence

Matt Underhill, the broker at Clarity Development Finance, had experience of Ultimate Finance’s excellent service and reached out to the lender for a pragmatic, pacey approach. Samuel continues: “We’re built for moments like this: fast decisions in principle, credit-backed offers within 72 hours, high LTVs where appropriate, and an in-house legal team that leans in early to keep momentum. Most importantly, we commit to solutions that reflect the real-world sequence of events on site – not just what looks good on paper”.

Ultimate Finance structured a Development Exit Bridging facility of £3.85m net to repay the incumbent lender, align with the practical completion timeline, and preserve the commercial arrangements already agreed for the site.

What made it work:

· Ultimate Finance’s flexible approach kept the existing funder in place during key steps, then supported the transfer of their charge onto adjacent land once agreed.

· Ultimate Finance’s legal inhouse legal team efficiently navigated land swaps and overage agreement by collaborating closely with external counsel, the valuer, and counterparties

· Ultimate Finance’s relationship-based approach ensured for constant and smooth communication lines between broker, clients, lawyers, credit and legal, so every stakeholder knew where we were in the process.

Samuel adds: “We flexed our approach to suit the project’s unique requirements – legal, commercial and practical. When you blend decisive credit teams, hands-on legal support and clear communication, complex deals become deliverable. That’s how we keep business moving.”

Delivery today, confidence for tomorrow

The bridging deal completed in time to avoid penalty fees from the existing development lender and to maintain sales momentum towards completion. With only around £85k of final works remaining and practical completion in sight, the teams is now able to focus on finishing the project. Next, they’ll continue to build out their pipeline – leveraging the scale and experience behind their 79-strong portfolio.

Matt says: “Having been let down by another lender after several months and no discernible reason, we took this complex deal to Ultimate Finance, who were able to take a quick commercial view on many complex factors, and navigated the deal with speed and clarity throughout the process. Ultimate Finance understood the quality of the developer, who is one of our larger clients and kept us up to date daily to achieve the tight deadline we were working to, to avoid penalty fees from the incumbent development lender.”

If you have clients facing a complex exit with immovable timelines, we’re here to help. Register to become an Introducer today or speak to your dedicated Regional Director to get moving.