The move is designed to open additional funding opportunities for brokers and developers.

The increase applies to development finance, stretch senior, and sales and refurbishment bridging loans.

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Kevin Beevers, managing director of commercial lending at Hodge (pictured above), said: “Increasing the maximum loan amount available across our development finance products is going to open up a whole new range of opportunities for developers, as well as the brokers supporting them.

“We are fully committed to helping our clients and brokers achieve their property development ambitions and offering them the option to borrow up to £10m against a single development — while aligning with our residential and mixed-use investment options where we already offer up to £10m — is now another way that Hodge is able to do just that.”