The rise means there are no limits on the amount of capital a landlord is able to raise in England, Scotland and Wales through a remortgage up to 75% LTV.
YBS Commercial Mortgages has also committed to making a minimum £150m available to borrowers over the next six months.
This is the largest quarterly contraction since quarterly records began in 1955.
Promise Money will now pass on all lender's commission to the introducer broker.
The loan was completed on the lender’s stepped rate product, with the deal starting at 0.59% per month for the first half of the 12 month term.
The system will come into place from 1 September to ensure appropriate training and testing.
The office has been reopened conforming to local lockdown restrictions and social distancing.
UTB and Freedom Finance estimated that using the B2B Digital Messenger service reduced overall processing time by three to four days.
Stevens joins the London-based bridging lender from Positive Lending, where he was national sales manager and head of networks.
Assetz Capital has applied for a Pool E Banking Competition Remedies (BCR) £10m grant as it continues to scale its small to medium enterprise (SME) lending.