The change comes in response to client and broker demand, and is part of the lender’s plan to expand its reach and fund experienced developers across multiple asset classes.
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Gareth Davies, head of development finance at Hodge (pictured above), said: “There is clearly demand for development funding in the alternative residential asset class and, given Hodge’s history and experience in this sector, it makes sense for us to expand our appetite across multiple asset classes.”
Hodge’s development finance proposition offers loans between £1m and £5m at up to 80% LTC and 65% LTGDV over 24-month terms.
The option is available to individual borrowers, as well as limited companies, PLCs, LLPs and partnerships.
The lender aims to introduce additional new products over the coming months as part of a targeted growth strategy across residential and commercial real estate.
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