Northreach
Senior Underwriter
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Northreach is a dynamic recruitment agency that connects businesses with top talent in financial services, fintech, and digital sectors. We specialize in providing a seamless recruitment experience for clients and candidates, fostering innovation and professional growth.
About the Company Northreach is partnering with a well-capitalised specialist property lender that is rapidly expanding its presence across the UK development finance and bridging market.
The business provides flexible funding across the property lifecycle, including residential and commercial development finance, bridging, development exit, heavy refurbishment and land, with facilities extending into the tens of millions. The lender operates nationally and has built its proposition around pragmatic credit decisions, speed of execution and working closely with experienced developers and brokers.
Following significant investment in its UK lending platform and continued growth in deal flow, the business is strengthening its underwriting team with an experienced Senior Underwriter who can confidently assess, structure and deliver complex property transactions.
About the Opportunity This isn't a volume-led underwriting position.
You'll take ownership of development finance and bridging transactions, working through deals from initial assessment and credit analysis through due diligence, approval, documentation and completion.
You'll be trusted to understand the story behind a transaction, interrogate the numbers, identify the genuine credit risks and determine whether a commercially sensible structure can be achieved.
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The underlying lending proposition covers transactions from straightforward bridging through to ground-up development, development exit, refurbishment and more complex structured property facilities. Recent publicly disclosed transactions demonstrate exposure to residential development, student accommodation, assisted living and complex bridging structures.
You'll work closely with experienced originators, borrowers, brokers, valuers, monitoring surveyors, solicitors and senior credit stakeholders to get good deals completed without compromising credit quality.
Key Responsibilities Underwrite development finance and bridging facilities from initial assessment through to completion. Assess development appraisals, build costs, GDV, LTC, LTGDV, LTV and overall project viability. Analyse borrower and sponsor strength, track record, liquidity and financial position. Review valuations, monitoring surveyor reports, QS information and other professional due diligence. Structure transactions that balance commercial opportunity with appropriate credit protection. Prepare clear, well-reasoned credit papers and recommendations for approval. Identify key transaction risks and determine appropriate conditions, covenants and mitigants. Work directly with brokers, borrowers and professional advisers to progress transactions efficiently. Partner with Originations and Credit to find workable solutions for more complex cases. Review legal and security requirements alongside external solicitors. Maintain momentum across multiple live transactions while ensuring underwriting standards remain high. Provide guidance and support to less experienced members of the underwriting team where appropriate. Remain involved throughout the transaction lifecycle, supporting amendments or restructuring where required.
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Essential Experience Strong experience underwriting Development Finance within the UK specialist property lending market. Experience underwriting Bridging Finance transactions. Detailed understanding of residential property development and development risk. Strong knowledge of LTV, LTC, LTGDV, GDV, development appraisals and exit analysis. Experience assessing developer and sponsor track records, financial strength and project viability. Ability to analyse valuations, cost plans, monitoring surveyor reports and professional due diligence. Experience preparing and presenting credit proposals for approval. Strong understanding of property security, legal due diligence and lending structures. Ability to manage transactions involving multiple stakeholders and moving parts. Commercial approach to underwriting combined with disciplined credit judgement. Strong broker, borrower and stakeholder communication skills.
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