Grade II Listed Bridging Loan & Rebridge — Camberwell, London
A borrower in default with their existing bridging lender needed a rapid refinance against a Grade II listed townhouse in Camberwell — complicated by a historic planning enforcement notice that created ambiguity around the property's residential classification. Aura Capital delivered a £575,000 rebridge in 17 days, clearing the default and enabling a clean exit to sale.
The Situation
The borrower held a five-storey Grade II listed townhouse in Camberwell, South London — a substantial asset with significant equity. They had fallen into default with their existing bridging lender and needed to refinance quickly. Every day in default increases the cost of the position and narrows the options available; speed was not merely convenient, it was financially critical.
The property carried an additional complication. A historic planning enforcement notice was registered against the asset, creating ambiguity around its residential classification. For most lenders, this combination — a listed building, an enforcement notice, and a borrower in default — would represent too many variables to underwrite with confidence. The case would be declined, or progress so slowly that the default position worsened materially before funding arrived.
Aura Capital was instructed to find a workable solution and move at the pace the situation demanded.
Lending Against Listed Buildings
Grade II listed buildings present specific lending challenges that go beyond the standard residential assessment. The listing imposes restrictions on alterations, repairs, and change of use — restrictions that affect both the asset's value and its saleability, and which a lender must understand properly before committing to a facility.
For bridging lenders who lack experience with listed property, the default position is to decline or to require extensive additional due diligence that delays the transaction significantly. Lenders who do have the capability to assess listed buildings accurately can move with confidence — and at pace — where the asset quality, LTV, and exit strategy justify doing so.
In this case, the five-storey townhouse was a well-established residential asset in an active South London market. The listing status was a complexity to be assessed, not an automatic barrier. At 65% LTV, the security position was sound regardless of the planning history.
Navigating the Planning Enforcement Notice
The historic enforcement notice concerned the property's residential classification. This is not an uncommon position in London, particularly with larger townhouses that have at various points been used or converted in ways that intersect with planning controls. The existence of a notice does not necessarily mean the property is unlawful in its current use — it means there is a planning history that requires careful reading.
Planning ambiguity assessed and funded through. Aura Capital engaged proactively with underwriting, reviewed the enforcement notice on its merits, and — drawing on the borrower's track record — structured a facility that accommodated the planning position rather than requiring it to be resolved before lending could proceed.
The approach was the same as Aura Capital applies to other planning complexities: assess the actual risk, not the surface-level complication. An enforcement notice on a listed building in a prime residential location, at 65% LTV with a clear sale exit, is a manageable position for a lender with the right expertise and the right capital relationships.
How the Deal Was Structured
The facility was structured at £575,000 — 65% LTV — at a market-leading rate of 0.75% per calendar month, with interest fully retained for the 12-month term. The rate reflected the quality of the asset and the strength of the security position, not the complexity of the planning history.
Dual-representation legals were used to compress the legal timeline. Rather than each party instructing their own solicitors independently — a process that introduces coordination delays at every stage — dual representation allowed a single legal team to act for both lender and borrower, managing the process as a single workstream. Combined with direct access to underwriting decision-makers, the transaction was completed in 17 days from instruction.
The 17-day completion cleared the borrower's default position with their existing lender, removing the accumulating costs and legal risk that default carries. With a 12-month term in place and interest retained, the borrower had the runway to pursue a sale of the property at full market value — maximising equity rather than being forced into a distressed disposal.
The Numbers
| Asset | 5-storey Grade II listed townhouse |
| Location | Camberwell, London |
| Net loan | £575,000 |
| LTV | 65% |
| Rate | 0.75% per calendar month |
| Term | 12 months |
| Interest | Fully retained |
| Charge | First charge |
| Complexity | Grade II listing · Historic enforcement notice · Default refinance |
| Legals | Dual representation |
| Time to completion | 17 days |
| Exit strategy | Sale of property |
| Product | Bridging Finance (Unregulated) |
Why This Case Worked
Three factors — any one of which would have stopped most lenders — were present simultaneously: a Grade II listed asset, a historic enforcement notice, and a borrower in default. The combination made this a case that required genuine expertise and direct access to decision-makers, not a tick-box credit process.
The asset quality was the foundation. A five-storey townhouse in Camberwell, with substantial equity at 65% LTV, is a well-secured position. The complexity was real but it was navigable — and at that leverage, the lender's downside was well-protected even accounting for the planning history and the additional time a sale of a listed property might require.
Proactive engagement with underwriting was what turned the deal from a possible refusal into a 17-day completion. Rather than submitting a case and waiting for a decision, Aura Capital worked through the enforcement notice with the underwriting team in real time — establishing what the actual risk was, what the borrower's track record demonstrated, and what the appropriate terms were. That process takes experience and direct relationships with the right capital sources; it cannot be replicated through a portal submission to a conventional lender.
Dual-representation legals then delivered the timeline. With underwriting resolved, the legal process was the remaining variable — and by consolidating it under a single team, that variable was controlled. Seventeen days from instruction to funds drawn, with a listed building, an enforcement notice, and a default to navigate.
Products Used in This Case
This transaction was delivered using Aura Capital's rebridge facility — structured for a borrower who needed to exit a default position quickly against a complex asset. If your situation involves a listed building, a planning complication, a default position, or simply a need to move faster than conventional lenders allow, speak to the Aura Capital team directly.
Related products that may also be relevant include our broader bridging finance range, our no valuation bridging loans for cases where desktop assessment is appropriate, and our capability for complex or non-standard assets funded through private capital relationships not available direct to borrowers.
Have a Complex Deal That Needs to Move Fast?
Listed buildings, enforcement notices, default positions — if your deal has complications that have slowed other lenders down or led to a decline, speak to Aura Capital. We assess every case on its merits, engage with underwriting directly, and give you a clear answer quickly.
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