The lender said this was a sign of its “building on strong growth” and follows it exceeding the £300m lending milestone in July. 

Some of the deals completed in the last month include residential developments in Wakefield, West Yorkshire; East Studdal in Kent; Hitchin in Hertfordshire; and Gerrards Cross in Buckinghamshire with new and existing clients. 

These projects will each deliver between two and 12 family homes for owner-occupiers. 

The firm typically lends between £1m and £25m to experienced developers up to 90 per cent loan to cost and 70 per cent loan to gross development value. 

It lends against residential projects, non-speculative commercial developments and specialist sub-sectors such as student accommodation. 

Parik Chandra, partner and head of specialist lending at Downing LLP, said: “The latest deals highlight our ability to continue growing the portfolio in very tough macro conditions and a competitive market. We remain committed to supporting SME developers in the face of challenging conditions.”