For every ‘finish and sell’ and ‘market and sell’ loan submitted between 30th August-30th September that subsequently completes, the lender will pay 0.25% of the gross loan amount directly to the borrowers on completion.

Brian West, head of sales and marketing at Saxon Trust (pictured above), said: “Following conversations with our broker partners and in the face of growing economic pressures and uncertainty, we felt the time was right to offer an additional incentive directly to our developer clients.

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“Since launching our development exit products, our average loan size has been very close to £2m, which will generate a very useful £5,000 cash back under this new special offer. 

“Add to this all the traditional benefits of lower rates, the opportunity to raise additional cash, loans up to £5m, LTV’s up to 75% and the additional flexibility and breathing space developers so often need, and the case for placing development exit cases with us has never been stronger.

“Crucially, none of these great strengths come at a cost to our brokers, for whom a 2% minimum proc fee on exit loans remains standard. 

“In challenging times, we are more determined than ever to find new ways to support both our brokers and borrowers.”