The loan, provided at 70% LTV on a 12-month term, is expected to be repaid through the sale of the property.

The development comprises nine three and four-bedroom homes on the site of a former scrapyard.

Hampshire Trust Bank’s Bridging Finance team has successfully delivered a £3.2m development exit loan to support a high-value residential scheme in York.

The 65% LTGDV facility enables the delivery of 5 high-end units a stone's throw from one of the best beaches in the UK.

The loan was completed in 21 days from credit approval

Despite challenges such as material and labour shortages, the deal was completed in just 17 days.

The South London scheme comprised 9 homes with a predicted gross development value of £6.7m

The complex facility was structured into three transactions to complement the varying stages of the site.

The listed building will be sensitively renovated to create 64 spacious, beachfront two and three-bedroom apartments.

The scheme comprises a mixture of bungalows and detached houses, ranging from two to four bedrooms.