Hodge increases maximum lending amount across development finance range

This applies to single transactions within its development finance, stretch senior, sales bridge and refurbishment bridge products. 

The stretch senior product is for experienced developers, while the sales bridge is open to existing borrowers of Hodge who want to release equity towards the end of a project which has been funded by Hodge. 

The maximum amount it will lend on its acquisition bridge product will remain at £5m. 

Kevin Beevers (pictured), managing director of commercial lending at Hodge, said: “Increasing the maximum loan amount available across our development finance products is going to open up a whole new range of opportunities for developers, as well as the brokers supporting them.  

“We are fully committed to helping our clients and brokers achieve their property development ambitions and offering them the option to borrow up to £10m against a single development, while aligning with our residential and mixed use investment options where we already offer up to £10m, is now another way that Hodge is able to do just that.” 

Beevers said the change was “fantastic news” and added that the lender wished to draw on its experience in the development finance space to support more developers with their portfolios.