This latest deal follows the completion of an £800k bridge on a complex semi-commercial project in Chiswick.

Fixed-rate commercial investment mortgages now start at 5.92%.

The loan was structured at 70% LTV, providing the full net amount required for the borrower’s redemption.

The lender is now offering loans up to 70% LTV and stepped rates for greater flexibility

The five-year commercial investment loan was agreed on a 20-year amortisation profile.

The client, a large developer in Exeter, has refurbished an old semi-commercial building into 28 luxury flats with a GDV of £7m.

The borrowing entity was an offshore company, which introduced additional complexity to the transaction.

The British bank gained regulatory approval in early 2015, and was founded by entrepreneurs Rishi Khosla and Joel Perlman.

The commercial lender has reduced rates by 0.10%

Mayfair continues to be one of the most sought-after areas for offices in the capital.