The specialist bridge lender provided the £13m development exit loan to an experienced developer against 24 high-quality apartments in Denmark Hill, London.

The funding from Atelier will see a Grade II listed building converted into a purpose-built student accommodation scheme in the centre of Bristol.

The bank accepted an unmortgaged property as security instead of cash and completed the case in 36 days from credit approval.

The five-day bridge saved the customer's deposit on their newbuild apartment in London

The two firms managed to get the deal over the line in record time, saving the client a 'substantial' six-figure sum in Stamp Duty Land Tax.

The new development is helping to address a shortage of 230,000 student beds in the UK.

The £34m apartment conversion scheme in Hampton Wick is expected to take just over two years to complete.

The five-unit development comprises two semi-detached and two detached houses in a private close, each with its own parking space.

The app-based bank was able to quickly complete the deal despite delays caused by unsigned documents.

The case was the first introduced to JMT Finance by the brokerage Mortgage Lane.