The benefit of a ‘Red Book’ Valuation

by Joel Lea, Senior Underwriter at Bath & West Finance.As a principal lender, we appreciate the necessity of carrying out a RICS ‘Red Book’ Valuation to help us assess the financial risk of a property – whether housing, commercial or semi-commercial properties,...

Spotlight on property conversions and refurbishments

by Martyn Smith, Managing Director at Bath & West Finance. I’ve been in the specialist lending arena for over thirty-five years, and bridging finance has near enough remained close to its origins of being flexible, short-term finance which is secured against...

Bridging Industry stalwart Matthew Anderson joins Bath & West Finance

Matthew Anderson has joined West Country bridging lender Bath & West as commercial director. Anderson has over 25 years experience in the bridging and development finance markets, formerly heading up development lending at Amicus Finance and prior to that, at...

Should unregulated bridging really be driven by borrower status?

A recent report into the bridging market, penned by EY Financial Services, articulated some interesting features of the current short-term market that bear a little more thought. According to EY’s analysis, growing competition in the bridging market ‘requires...

Thematic review of the short-term sector: Is it time to re-visit the basics of bridging?

The bridging market has changed a lot over the past decade. No longer is the dominant model to have a number of private individuals funding short-term development projects, underwritten on a case by case basis and priced typically at between 1.5 and 2 per cent a...

Development Finance

A common-sense approach to development finance

Capital is the key ingredient for every successful development, whether it’s a new build, part-build or conversion. You need an experienced and reliable finance lender with a common-sense approach who can work alongside you and who can access funds quickly. At Bath & West we can strengthen your position by arranging short-term finance on competitive terms and will work side by side with you throughout the period of the loan, ensuring that you only pay for the capital you use.

“We have extensive experience in assisting developers with more complex cases, often with multiple units, and often ‘new build’. Cash flow is key is seeing a development through to a successful conclusion and our products are designed to enable a developer to have peace of mind, safe in the knowledge funds will be available to cash flow a scheme through its life.”

Joel Lea

Bath & West Finance
Senior Underwriter

Key rates & features

Maximum Loan


Minimum Loan


Maximum LTV On Completion


Maximum LTGDV


Build Costs Funded

up to 100%

Build Cost Limit


commitment fee


Broker Commission

from 1%

Monthly Interest

from 0.95%

Interest Payment Method

Rolled-up or Retained

Exit Fee

45 days Interest

Minimum Term

90 Days

Maximum Term

540 Days

Stage Releases

Monitoring surveyor

Stage Release Fee

£195 per drawdown

Key Product Criteria*


Land to be developed to residential or semi-commercial – full planning required before completion



Type of Charge

First charge

Building Control & Warranty

Stage releases are tied in with statutory and warranty inspections


Large refurbishment and conversions, demolition and ground-up developments, part-built developments.

Pre-commencements of works conditions must be discharged before completion


Prior experience of a minimum of three similar projects

* Please refer to the criteria page for standard loan criteria for all products


Development, Reading

Our client required a loan to demolish a two-storey detached house and garage and to fund the development of three units. They also applied for enhanced planning, post-completion, to split one of the larger units into two semis.

We were happy to complete the loan on the current planning permission, with the understanding that a revised planning application would be made post-completion. We detailed all necessary requirements for enhanced planning in our offer letter, creating a clear path for the client to follow if enhanced planning was granted.

Loan: £1,529,200
Value: £2,450,000
GDV: 63%

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