Title insurance enables 11-day £1.2m bridging deal

Precise has completed a £1.2m bridging finance transaction in 11 working days, using title insurance and joint representation legal structures to accelerate a time-sensitive refinance for a development project.

The non-regulated refinance, introduced by Patrick Robertson at BuildLoan, was required to repay an existing lender whose terms were approaching expiry. Precise provided additional funding to complete the final stages of the development, with the borrower planning to exit via sale upon completion of works.

Transaction timeline

The deal progressed from application to offer in seven working days, followed by a four-working-day period from offer to completion. The total turnaround of 11 working days was supported by a full valuation.

Title insurance combined with a joint representation legal structure enabled the accelerated timeline by streamlining the legal process. Leigh Randle, dedicated bridging underwriter at Precise, managed the case, with JMW handling legal work.

Alan Kimber, head of bridging at Precise, said: “Where timelines are tight, the right legal structure is critical. Title insurance and joint representation allowed us to move quickly while still progressing a transaction of this size with the necessary oversight.”

Market context

The transaction comes as the UK new homes market faces profitability challenges, with developers seeking flexible financing solutions to complete projects. Speed of execution has become increasingly important for refinancing deals where existing loan terms are expiring.

Patrick Robertson, short term finance specialist at BuildLoan, said:

“This was a time-sensitive refinance with a clear deadline. The speed of delivery, along with the additional funding for final works, has put the client in a position to complete the project and move towards a sale.”

The use of title insurance in bridging transactions has grown as lenders seek to reduce completion times, particularly in competitive markets where legal and compliance processes are under scrutiny. Joint representation structures, where both lender and borrower use the same legal firm, can further compress timelines compared to traditional dual-representation arrangements.

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