A developer has completed the refinance of a 72-home residential scheme on the Isle of Wight using the Brickflow-powered lender search embedded in LandTech’s LandInsight platform, securing a £2.39m land bridge facility through Fiduciam in three weeks.
The deal illustrates the outcome of a partnership announced in April between Brickflow and LandTech, which embeds Brickflow’s whole-of-market search technology directly into LandInsight. Developers and investors using LandInsight to source and appraise sites can now compare live terms from more than 150 specialist lenders without leaving the platform.
The borrower had originally used LandInsight to verify the feasibility of the project and carried it through planning to a 72-home residential scheme. When the original delivery route ran into delays, just one month remained on an already-extended bridging facility. The incumbent lender remained supportive but could not extend further.
The site’s location created an additional complication. The Isle of Wight sits outside the lending criteria of a number of specialist lenders, narrowing an already limited pool at the point when time pressure was greatest. Working through lenders sequentially or relying on existing relationships was not a viable option within the timeframe.
Brickflow’s marketplace filtered immediately for lenders whose criteria accommodated the location, the asset type and the required timescale. Four returned terms within a short window, giving the borrower a choice of options despite the constraints. The borrower, working with a broker using Brickflow, proceeded with Fiduciam, and the facility completed in three weeks.
With the refinance in place and the scheme stabilised, the same marketplace will be used to source the project’s estimated £20m in development finance once construction begins. Brickflow’s platform supports developers and investors from site acquisition through to development finance and commercial term lending.
“This is precisely why we put our technology inside LandInsight,” said Frazer Campbell, chief revenue officer at Brickflow (pictured).
“The borrower assessed the site there, took it through planning, and when the funding position became urgent, the whole lending market was already sitting in the platform they were working in.”
Preston Tucker, LandFund operations manager at LandTech, added: “Identifying the right site is only the first step; securing finance is where projects most often encounter friction, and that friction is at its worst when timing is tight, and the asset sits outside standard criteria. Giving our users direct access to a market of 150 lenders inside LandInsight means they can act on that pressure immediately rather than starting a new process from scratch.”
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