The loan, provided at 70% LTV on a 12-month term, is expected to be repaid through the sale of the property.

The development comprises nine three and four-bedroom homes on the site of a former scrapyard.

As well as rising rents, March also saw an increase in void lengths, rising to 21 days from 20 in February.

The initial cost of moving home has increased by as much as 13% over the last year alone

The property consultancy raised over £58m through back-to-back March residential and commercial auctions

There are now 14,000 completed SFH homes, with a further 13,000 under construction.

Wybo Wijnbergen, co-founder and CEO of infinitSpace explores why increased competition in the flexible workspace market is a positive thing.

Alongside the changes in criteria, society has also announced a series of product updates.

The loan was structured at 60% LTV over a 12-month term

The loan enabled UTB's customer to buy a retirement property and consolidate existing debt.