The new development, located in the city's Knox Court, is set to be Wales’ first co-living scheme.

The need for 187,000 affordable homes is an increase from 70,000 in 2015, according to research from Savills.

Higher borrowing costs are likely should the surge in swap rates continue

The total loan facility represents 60% LTGDV with a 15-month term

The 70% LTGDV facility is for a term of 20 months, priced at 5.65% plus base rate

Enhancements made by the specialist lender include raising its maximum loan size and broadening the range of prospective applicants.

Last Wednesday's Budget saw the rate of stamp duty paid on second homes in England rise from 3% to 5% with almost immediate effect.

Landlord profitability has hit its highest level since 2022 despite ongoing challenges in the market.

The new products all come with a fee of 3%, with a minimum of £750

The current Stamp Duty threshold of £425,000 is set to revert back to £300,000 in April next year.