Introduced by Clifton Private Finance, the £4m loan was secured against six new-build houses in North London for a term of 12 months.

The loan was under Funding 365’s residential bridge product which offers solutions of up to £5m-plus on properties across England and Wales with no admin fees, exit fees or early repayment charges (ERCs).

Katie Spitz (pictured), senior underwriter at Funding 365, said: “This was a classic development exit proposition which allowed us to deliver a 75% LTV loan at a highly competitive rate of 0.79% per month.

“The experience of working with Fergus and the Clifton Private Finance team was excellent, once again.

“They’re always available to smooth the path for their clients and their communication is first class.”

Fergus Allen, head of bridging at Clifton Private Finance, added: “Working with Katie and the team at Funding 365 is always a pleasure and this loan was a great example of the flexibility and exceptional service they offer.

“Funding 365 took a view where it was required and reduced their pricing to fend off competition.

“The client and I were delighted with their can-do attitude, quick responses and overall enthusiasm to lend.

“We’ve had a lot of success with Funding 365 this year and look forward to building on that relationship into 2025.”