The lender reported turnover growth of more than 15% and gross profit above 18%, reaching £4.7m.

The bridging facility carries a 12-month term to allow the owner time to achieve optimal sale value.

Bridge Fusion now has three tiers instead of two, based on loan size.

First charge loans up to £4 million qualify for the new valuation refund offer.

The 65% LTV funding was based on the market value subject to tenancies.

New rate cuts include a 60bps reduction for 80% Heavy Refurbishment loans and stepped rates starting at 0.39% per month.

Aspen has recently reduced its heavy refurb rate to 0.78% 

The new lender will target £250m in loans during the first 12 months of operation.

The bridging loan will support plans for a new Hertfordshire co-living development.

SKDA has completed a complex £1.5m portfolio bridge, with 18 in-person valuations in cooperation with the exit bank, saving the developer both time and expense.