The product, which is already gaining the lender enquiries, has a maximum loan size of £3 million and GDV of up to 70%. Rates start at 1.25% and the product is available for England and Wales with a maximum term of 12 months.
Yasin Patel, Director of Mayfair Bridging, said:
“We're very excited about the launch of this product as it has generated an enormous amount of interest already, with a number of enquiries coming in. We haven't been involved in development loans previously but now, with our new funding lines, we have both the appetite and the ability to lend in this space.”
