London Credit has reduced rates across its mainstream development finance range by 1% per annum and introduced a new Prime Development offering aimed at lower-risk projects.
The new Prime Development range carries rates from 10.00% per annum at 70% LTGDV, falling to 9.50% per annum at 65% LTGDV. A specialist in-house property development team, with extensive experience across the sector, continues to manage London Credit's development lending proposition.
The lender supports both experienced and first-time developers throughout the planning and delivery of their projects, giving brokers access to flexible funding solutions backed by specialist development finance experience.
"Development finance is a market where experience is so important," said Jake McCausland, head of development finance at London Credit (pictured).
"Every project is different, and understanding build costs, project timelines, planning considerations and exit strategies is often just as important as the numbers themselves.
"We continue to see strong demand from developers looking to bring forward projects of all sizes, from experienced operators delivering established schemes to first-time developers entering the market. Many are also looking to keep funding costs competitive whilst ensuring they have the right support throughout the development process.
"By reducing rates across our mainstream development range and introducing a new Prime Development offering, we are giving brokers greater flexibility when structuring development transactions, supported by a team with a deep understanding of the property development sector."
