Kimberley Gates at Sirius Property Finance, said: “Given the turbulence of the past year and the pressure to meet the SDLT relief deadlines, it is to be expected that chain breaks are the most popular use for bridging finance."
Ashley Ilsen, chief executive at Magnet Capital, said: “Since launching, we’ve established a name and a brand that is synonymous with quality in the development finance sector."
The developer bought a property at auction, but had used the funds originally put aside on another property development.
Nucleus Commercial Finance has enhanced its business growth loans, with the intention to support more UK SMEs.
White Oak recorded its highest ever monthly lending figures in March with over £70m provided to 724 UK SMEs.
The decision to value the property remotely, despite its complexity, was taken in order to limit costs and help the applicant gain a quick completion to avoid costly penalty charges.
MCR Property Group has acquired its first office investment in Scotland as it begins its expansion into the country.
The loans will be used to fund residential development projects in North Devon and the Cotswolds.
As the country gets back on the road to recovery, the lender is keen to support sectors that will help drive the UK economy forward.
Businesses are to be given more time in order to repay the government support loans, according to the chancellor, Rishi Sunak.