The £690,000 residential bridging loan and £700,000 development exit facility will enable the borrower to purchase a three-bedroom house in need of renovation, with plans to extend it, while exiting the development of a second property and capital raising.

Both homes are located in New Malden, south-west London.

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It is expected that the client — an experienced developer — will take up to six months to complete the renovation and extension, with plans to exit with a BTL lender.

Ashley Kendall, BDM at Lendhub (pictured above), said: “[This is] another perfect example of how Lendhub can make a complex transaction across two properties look straightforward for its broker partners and clients.”