The finance facility comes with a 9.35% rate, and is aimed at providing housebuilders, brokers and landowners with a financing solution on up to 70% LTGDV.

Assetz Capital notes that credit decisions are available in under 24 hours for “straight forward transactions”.

“Having funded close to £2bn of property transactions across the UK, we are very aware of the risks that come with property development, particularly as the market faces potential economic headwinds,” said Tim Harper, chief credit officer at Assetz Capital.

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“Our approach is to provide competitive financing with speed, but also with initial careful scrutiny to ensure that we are supporting sustainable and profitable projects in areas of need.

“Our ability to deliver faster than a challenger bank while maintaining a rigorous risk assessment process is what sets us apart.”

This is the latest product development since Assetz Capital launched an enhanced initial day one funding for development finance schemes up to 70% LTGDV. 
This strategic initiative was designed to provide housebuilders with the cash injection at the start of the project.