A more measured market
Bridging & Development Lenders Association data showed completions of £1.8 billion in the first quarter of 2026, down from £2.5 billion in the previous quarter. Average LTV eased to 56.64% from 58.64%, and the association said the figures should be read against recent rapid growth and a more cautious property finance environment.
The London purchase
The first case involved a semi-commercial property in London, which presented an investment opportunity for the borrower. Weir structured the deal to maximise returns, and it was the first transaction he and Gallagher had structured together.
Hope Capital lent against the property’s projected value, enhanced by a title split completed at the point of completion, which increased the funding available. The lender provided 100% of the £3.8 million purchase price, giving the borrower time to secure refinancing without the risk of an impending second charge on another property.
The Scottish purchase
The latest case involved the below-market-value purchase of a commercial asset in Scotland comprising three office buildings. The borrower’s experience, together with the working relationship already established with Gallagher, gave Hope Capital the confidence to proceed.
The facility was set at 70% LTV against the property’s vacant possession value, producing a gross loan of £2 million over a 12-month term with a refinance exit. The longer term was taken for additional comfort, and the borrower expects to exit the bridge within three months.
