This is the third reduction in six months, following earlier cuts from 9.1% in February to 8.85% in April, and now to a new market-leading low this July.
In addition, the lender has made available day one loan advances with a further enhancement for experienced developers to model in early-stage plot sales.
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Loans are available from £1m to £10m, with gross funding structures available of up to 72.5% LGDV alongside an option to move to 87.5% gross loan to cost.
Andrew Fraser, CCO at Assetz Capital (pictured above), said these latest changes have been made to allow developers to access financing quicker.
“We don’t believe in rigid templates,” said Andrew.
“We meet borrowers where they are listening first, advising constructively, and backing their vision when others won’t.”
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