The new option offers loans starting from £5m on minimum terms of six months, and is not encumbered by a minimum ICR.

It is aimed at built assets in the living sector, including residential, BTR, build-to-sell, mixed-use with residential, PBSA schemes, HMOs, hotels (with occupational lease), and co-living properties.

According to the lender, the new product was launched in response to the higher interest rate environment, as well as to meet the evolving needs of many of its clients.

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Elliot Blatt, head of origination at ASK Partners (pictured above), said: “We are very much responding to market demand with this product, which we have designed specifically to support borrowers in what we are seeing as a recurring situation.

“We can provide a financing option that ensures our clients are able to continue to hold assets, as well as take time to sell or rent them at the right price and achieve their profit targets.”

Daniel Austin, CEO and co-founder of ASK, added: “It is exciting to be launching a product which can really help developers and investors in this newly challenging economic environment. 

“By formalising it as a product, we hope to reach a broader spectrum of clients facing similar challenges.”