London Credit has enhanced its property development finance proposition, reducing rates across its mainstream development range and launching a new prime development offering.
The lender has reduced rates across its mainstream development range by 1% per annum. In addition, it has also introduced a new prime development offering, designed for lower-risk development projects, with rates from 10.00% per year at 70% LTGDV and 9.50% at 65% LTGDV.
London Credit’s development lending proposition continues to be managed by a specialist in-house property development team, supporting both experienced and first-time developers throughout the planning and delivery of their projects.
Jake McCausland, head of development finance at London Credit, commented: “Development finance is a market where experience is so important. Every project is different and understanding build costs, project timelines, planning considerations and exit strategies is often just as important as the numbers themselves.
“We continue to see strong demand from developers looking to bring forward projects of all sizes, from experienced operators delivering established schemes to first-time developers entering the market. Many are also looking to keep funding costs competitive whilst ensuring they have the right support throughout the development process.
“By reducing rates across our mainstream development range and introducing a new prime development offering, we are giving brokers greater flexibility when structuring development transactions, supported by a team with a deep understanding of the property development sector.”
