In addition, the lender has also introduced a new prime development offering designed for lower-risk development projects, with rates from 10% per annum at 70% LTGDV and 9.5% per annum at 65% LTGDV.

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“We continue to see strong demand from developers looking to bring forward projects of all sizes, from experienced operators delivering established schemes to first-time developers entering the market,” said Jake McCausland, head of development finance at London Credit (pictured above).

“Many are also looking to keep funding costs competitive while ensuring they have the right support throughout the development process.

“By reducing rates across our mainstream development range and introducing a new prime development offering, we are giving brokers greater flexibility when structuring development transactions, supported by a team with a deep understanding of the property development sector.”