The 68% LTGDV facility — agreed at an interest rate of 8.5% — along with a £350,000 equity investment from a joint venture partner also sourced by Mackenzie Byrne, will fund 100% of the costs to deliver five houses in Selsdon, south Croydon.

Albury Homes expects to complete the development in March 2023.

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Steve Larkin, head of development finance at LendInvest, said: “This is our first deal with Mackenzie Byrne and we are delighted to have completed this transaction with our new broker partner. 

“The key to a successful relationship is communication, and both client and broker were always on hand to ensure the deal was processed as smoothly and efficiently as possible.”

Dominic O’Leary, head of development and structured finance at Mackenzie Byrne, added: “Getting 100% of costs covered for our clients is always challenging — we’re delighted to have done so, as our client will be providing much needed new family homes for the area.”