The prospects of purchasing a property alone in the capital are virtually impossible for the vast majority.

The borrower plans to redevelop an exclusive Grade II Listed townhouse on super-prime residential location, South Audley Street.

The longer-term lender has announced that it has reduced rates on its range of 5-15-year fixed products

The Mortgage Lender has also announced that it is to reintroduce its buy-to-let fee-saver product from today.

The lender has announced fresh rate reductions on its buy-to-let product range across all loan-to-values up to 75%.

96% of homebuyers who had abandoned their plans due to escalating interest rates now say they are going to re-enter the housing market.

The development exit loan was structured with a short 12-month term to align with the anticipated rapid sales of the properties.

The funding comprises a £7m acquisition bridge, provided by specialist lender Octane Capital, and a £2.3m VAT loan from Adsum

The rate cuts include reductions across the lender's residential, right-to-buy, and deposit unlock ranges.

The changes are live with immediate effect with applications sold on older products honoured, providing an offer is issued before the 31st of October