How we work
PBSAX helps owners and developers find the right PBSA funding route — clarifying what you need, preparing lender-ready information, and pointing to the most relevant next step. We are not a lender. Any leverage or pricing bands on this page are market context, not offers of finance.
Which finance route fits?
PBSA funding usually falls into a small number of routes: acquisition debt, refinance, development finance, mezzanine, or forward funding. Pick the closest label for your enquiry — we refine the fit on the call once we understand the asset, amount, and timeline.
| Route | Indicative leverage | Best when | Read more |
|---|---|---|---|
| Acquisition finance | 55–65% LTV typical | Stabilised or near-stabilised purchase | Loans guide |
| Refinance | Reprice / extend senior | Occupied schemes with clean income history | Refinance |
| Development finance | ~60–70% LTC / ~55–60% GDV | Consented or clear planning path | Development finance |
| Mezzanine | Fills above senior | Higher leverage with clear exit | Mezzanine finance |
| Equity / JV | Below debt in the stack | Sponsor shortfall or operating partner needed | Equity funding |
| Forward funding | Investor funds build | Institutional pipeline / FF deals | Forward funding |
Pricing and leverage move with SONIA, lender appetite, and asset quality. Cross-check finance rates before you model an offer.
What lenders usually want to see
You do not need a full document pack for the first conversation. The inputs below are what lenders typically ask for once a route is clear — having even a partial set ready makes the second step faster.
| Area | Typical inputs |
|---|---|
| Asset basics | Address/postcode, beds, room mix, operator status |
| Income | Rent roll, occupancy, academic-year context, voids |
| Costs & NOI | Opex, management fee, repairs, insurance |
| Valuation | Latest Red Book or desktop; ask for a free indicative if none |
| Capital ask | Amount, preferred LTV/LTC, use of funds, timeline |
| Sponsor | Track record, SPV structure, UK presence if overseas |
No valuation yet? Request a free indicative valuation or skim the valuations guide.
Example enquiry that moves quickly
Enquiries move faster when the basics are concrete: asset, income picture, amount needed, and timing. The example below is a typical refinance brief — enough to judge route fit without a full document pack.
| Field | Example |
|---|---|
| Asset | 120-bed cluster PBSA, Midland university city, occupied |
| Income | ~96% occupancy; rent roll + NOI summary ready |
| Ask | Refinance £8.5m senior (~60% LTV vs desktop value) |
| Timeline | Facility expiry in 4 months; want indicative terms in 2 weeks |
| Sponsor | UK SPV; operator in place for 3+ years |
Typical enquiry timeline
This is an initial enquiry process, not a formal loan application. Once a path is agreed, any lender submission sits with the lender or broker you instruct. Indicative timing for the PBSAX step:
| When | What happens |
|---|---|
| Day 0 | Share asset, amount, finance type, and timing |
| Within 48 hours | Route review — senior / refi / development / mezz / forward fund |
| Days 2–5 | Document checklist; fill gaps (rent roll, valuation, SPV) |
| Week 1–2 | Indicative path or introduction once inputs are ready |
| After that | Formal lender process sits with the lender or broker you appoint |
How finance enquiries work
The goal of the first conversations is to confirm the right capital route and what still needs preparing — not to submit a loan application prematurely. Typical steps:
- Share requirement — asset location and beds, funding amount, finance type, and timing.
- Review basics — income, value context, sponsor profile, and any obvious risk flags.
- Agree route — senior debt, refinance, development, mezzanine, or forward funding.
- Next step — pack checklist, calculator stress-test, or warm intro once the enquiry is fundable.
Prefer to model first?
If you want a quick indicative view of leverage and cover before speaking to anyone, use the PBSA finance calculator. Come back to this desk when you want a human review of route fit, pack readiness, or introductions.
FAQs
Is PBSAX a lender?
No. We help you clarify the requirement, prepare lender-ready inputs, and introduce relevant finance routes. Formal applications sit with lenders or brokers once a path is agreed.
What should I have ready for a first finance call?
Location/postcode, approx. beds, funding amount, finance type (acquisition, refinance, development, mezzanine, forward funding, or not sure), and timeline. Rent roll, occupancy, NOI, and valuation context help on the follow-up.
What LTV and pricing should I expect?
Stabilised senior debt often lands around 55–65% LTV, priced over SONIA (indicative bands change with markets). Development and mezzanine sit on different LTC/GDV and cost assumptions — see the financing guide and rates page for current context.
Can overseas investors finance UK PBSA?
Often yes, with a UK SPV, AML/KYC, a UK bank account, and sometimes a UK asset manager or operator. Requirements vary by lender and asset profile.
Is this a formal loan application?
No. This is an initial enquiry so we can route you correctly. Nothing is submitted to a lender until you instruct that step.
When should I use the calculator instead?
Use the finance calculator for a quick indicative model. Use this desk when you want a human review of route fit, pack readiness, or introductions.