The new rates will benefit investors and developers seeking short-term funding for purchases, refurbishments, and capital raising.

The lender is also launching a new larger loan offering.

The lender is expanding its offering beyond the prime property sector.

It will also accept applications for capital raising where the applicant has sufficient equity in an existing property.

The BDLA's membership now exceeds 90 organisations.

The lender has also raised its dual representation offering to £750,000.

The digital-only bridging lender launched last year.

The offer enables brokers to help their clients access bridging finance with fewer upfront costs.

The policy is designed to help speed up the legal process by reducing the number of solicitor checks required.

Bridging rates now start from 0.83%.