Inspired Lending's £822,000 developer exit finance loan refinanced a Sydenham developer's borrowing and released funds for other projects.

Average mortgage rates have reached 5.2%, up from 4% at the start of the year, adding £150 a month to typical repayments.

The facility was secured against the property at 66% loan-to-value.

Average rent in Britain rose an estimated 8.7% between 2023 and 2024, from £1,174 to £1,276 a month.

The City of London recorded the largest drop at 42.4%, with Bristol down 36%.

8% of landlords plan a rent rise within six months, while 35% would raise rents beyond that but within 18 months.

The average cost of a void in England rose 57.5%, from £696 in 2023 to £1,097 in 2026.

The levy is designed to raise about £3.4bn over ten years to remediate legacy building safety defects.

Landlords could face stronger intervention if they fail to improve properties described by the Prime Minister as harming residents and surrounding communities.

Loans of up to £15m are available at up to 80% gross LTV, including fees.