The loan was secured at 11.41% LTV on a five-year fixed rate with no early repayment charges.

The proportion of price reductions taking an asking price below £2m nearly doubled after the Mansion Tax surcharge was announced.

Maslow’s AVM route covers loans of up to £1m, at up to 75% gross LTV for purchases and 60% for refinances.

London accounts for £450.9m of listings, 32.3% of the national total, with an average asking price of £2.36m.

AI-enabled fraud was chosen as the biggest future threat by 29% of respondents, ahead of tenant and payment fraud at 27%.

The lender’s one-year fixed-rate range is open to new and existing borrowers, with a 3% early repayment charge during the fixed period.

The £244,000 facility combined a first-charge commercial bridge with a second-charge residential bridge.

The landlord database and ombudsman is the least known of seven Renters’ Rights Act measures, an August survey of 276 landlords found.

Specialist two-year fixed rates for MUFBs and HMOs now start from 3.66%.

The loan was secured at 50% LTV against a residential property.