In this pilot scheme London Credit will provide finance to a small number of projects to refine its lending service proposition ahead of its full launch.

The pilot scheme will be overseen by head of development finance Jake McCausland (pictured above), who was recruited by the firm earlier this year.

“At London Credit, we understand that development finance is a very specialist area of lending and it’s important to ensure both product and processes are built to meet the specific needs of developers,” said Jake.

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“With this in mind, we are launching in a controlled way to ensure we are completely happy with our proposition before rolling it out more widely. We look forward to the next stage of our launch in the coming months and helping brokers to deliver new funding options to their developer clients.”

London Credit currently provides bridging loans from £100,000 to £3.5m on residential, commercial and semi-commercial properties in London and the South East.

Terms on these loans range from three months to 18 and can be used for many circumstances including refurbishment, auction finance and capital financing.

The maximum LTV on residential is 75%, with this falling to 65% on commercial and semi-commercial loans.