The product offers day-one loan advances and funding up to 72.5% loan to gross development value (LTGDV), with the ability to move to 87.5% gross loan to cost.
Loans range from £1m to £10m, and Assetz Capital can deliver decisions within 24 hours for straightforward cases.
The lender will now recognise planning gain as a valid developer contribution, lowering the cash requirements and maximising leverage for developers, including those with fewer than two complete projects.
Assetz Capital said this complemented its recently launched First-Time Developer Finance product, which allows business and property professionals to operate in development with minimal upfront cash.
Andrew Fraser, chief commercial officer at Assetz Capital, said: “This latest reduction to 8.35% reflects our commitment to provide certainty of cost for SME developers to maintain momentum.
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“By combining lower rates, flexible day-one advances, recognition of planning gain, and our First-Time Developer enhancements, we’re giving clients the tools to improve margins, and deliver more homes efficiently through Assetz, enlarging the SME developer pool.”
He added: “Developers can act decisively knowing they’re supported by a partner who delivers with certainty – from a single-unit scheme up to 50-plus units, we cover all sizes of developer in all regions with our on-the-ground development experts.”
Keystone Property Finance trims rates by 0.2%
Keystone Property Finance has reduced rates across most of its products by as much as 0.2%.
This applies to its standard, specialist, expat, holiday let, refurb to let exit, product transfer and product transfer plus ranges.
Rates now start at 2.84% for a standard two-year fix up to 70% loan to value (LTV), 2.89% for the specialist alternative and 4.09% for the two-year fixed expat product up to 65% LTV.
Its two-year fixed holiday let rates up to 65% LTV begin at 4.84%, while five-year fixed refurb let to exit rates start at 4.59%. Its five-year fixed product transfer rates up to 65% LTV begin at 4.59%, as do corresponding product transfer plus rates.
Elise Coole, managing director at Keystone Property Finance, said: “We’re delighted to be cutting rates across nearly all of our ranges, with reductions of up to 20 basis points. Swap rates have eased over the past month, particularly since the latest inflation figures were published, which came in better than many had expected. That’s given us room to make further reductions and ensure our pricing remains as competitive as it can be.
“As a lender, we don’t sit on opportunities like this. When funding costs fall, we act quickly to pass those savings on to borrowers. As always, our priority is to stay responsive to market movements and help brokers secure the best outcomes for their clients in what remains a fast-moving environment.”
