Related topic: Development exit

The change aims to help property developers make the most of new opportunities created by the government's Your First Home initiative.

Pricing now starts from 0.74%.

Constantinos Savvides, head of underwriting at London Credit, says by revisiting developer clients and asking how repayment will be managed if sales take longer than planned, brokers...

All rates now start with a 9.

The lender has also changed its criteria and expanded its LTV bands.

Rates have reduced by up to 0.80%.

The lender has reduced residential and development exit, refurbishment, no valuation and bridge-to-let rates.

The lender is now offering its lowest development exit rate at 80% LTV.