Hampshire Trust Bank has provided £2.4m in development finance for a Mitcham scheme delivering eight residential and two commercial units on a South London high street.

The development will add nine homes, increasing the building’s residential count from 13 to 22 units.

The bank's enhanced pricing applies to buy-to-let loans over £1 million.

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

The transaction involved 65 residential properties across two separate South Wales portfolios acquired through a share-purchase structure.

An earlier phase of the restructure included a £7.5 million refinance.

The £1.65 million facility included a £1 million capital raise for a Tenerife purchase.

The borrower faced a six-week deadline to repay their bridge facility, which was fully cleared.

Early legal instruction and indemnified searches allowed immediate execution once the offer was approved.

Last month, the lender completed an £8.28m facility to support the acquisition and preparatory works for a landmark development site in central Manchester.