Loan structured at 65% LTV over a nine-month term.

Residential rates start at 0.79% per month up to 65% LTV.

Last month, the lender completed a £6.3 million funding package, supporting a developer with two separate residential projects in Bath and Cheltenham.

Bridge To Term first-year interest rate stands at 1% per month.

Following the changes, the lender's standard purchase and development exit bridge now starts at 0.79% per month.

Regulated bridging rates under 50% LTV are now 0.61% per month, down from 0.68%.

Rates on regulated loans over £750,000 now start at 0.79% up to 60% LTV.

Brokers will be able to submit proposals through a single portal once digital upgrades are complete.

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.