The situation
The classic PDR pitfalls: prior approval refused, viability caps hit, minimum-space standards missed. Any of these delays the exit and multiplies bridging cost. Funding needs to flex to real-world timing.
How we approach it
We size the bridge on realistic post-conversion GDV, budget the works properly (light works vs heavy), and pre-agree the exit route (unit sales or BTL refinance). Extension provisions built in for real-world planning timing.
What that looks like in practice
- Bridge sized on post-conversion GDV, typically 70-75%
- Works tranched against MS or QS sign-off
- Prior approval risk assessed at outset, not assumed
- Exit strategy — unit sales or BTL refinance — pre-agreed
- Extension provisions built into terms
Typical timeline
- Pre-purchasePDR appraisal, prior approval strategy, exit route.
- Purchase + worksBridge drawn, works completed, prior approval.
- ExitUnit sales or BTL refinance to redeem bridge.
Common questions
What is Class MA?
Permitted development right for change of use from commercial (Class E) to residential — subject to prior approval on flooding, contamination, noise, light, etc.
How long does prior approval take?
56 days statutory from valid application, but real-world often longer with revisions. Budget for it.
What if prior approval is refused?
Full planning route as fallback, or appeal. Both extend timeline meaningfully. Underwrite for it at outset.
Send the PDR scheme
We'll size the bridge on realistic post-conversion value with prior approval risk properly factored.