Light development cases covering large-scale extensions and commercial-to-residential conversions now carry rates of 1.04% per month.

The new residential development finance product offers interest rates starting from 10.25% (Bank of England Base Rate of 3.75% plus 6.5%).

The partnership supports funding across three core stages of development, pre-development, build and exit.

The funding supports the second phase following the successful delivery of 31 homes in the scheme's first phase.

The Pallas Group manages a £1.8bn loan book and has completed more than 1,100 loans since 2016.

The Willow Bank development represents the largest single housing scheme in Ramsbottom for nearly 200 years on the site of the former Holcombe Paper Mill.

Cynergy Bank provided its first-ever hotel development facility, marking the lender's entry into a new sector through a £50m+ gross development value project.

Heavy Refurbishment and Residential and Development Exit pricing now starts at 0.74% per month.

England is projected to see an average increase of 242,000 households per year from 2022 to 2032, with households aged 85 and over expected to rise by 42.3%.

The deal completed in just seven weeks from the initial contact to final drawdown.