The new acquisition bridging option — available for experienced residential property developers, including partnerships, LLPs and limited companies — offers loans from £250,000 to £5m on terms between six and 24 months, with the LTV dependent on the asset and planning permissions in place.

It aims to help clients move quickly to buy land or property for developments with or without detailed or proposed-use planning consent, schemes where a change of planning permission or use is required, or for agreed projects that aren’t planned to start for six months.

Meanwhile, Hodge’s new sales bridging product — only available for the bank’s existing development finance customers — offers loans between £250,000-£5m at maximum 75% LTGDV on terms up to 12 months.

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It is designed for developers reaching the end of a project, allowing them to release equity from the scheme in order to secure a new development site opportunity, return equity to investors early, or free up funds while the asset sales are going through.

Gareth Davies, head of development finance at Hodge (pictured above), said: “We understand that development finance needs flexibility; sometimes, there are opportunities that developers want to jump on quickly or unexpected situations that may arise, so we’ve created these new options to help our clients and brokers bridge these gaps.

“We believe that the addition of these products to our portfolio will mean Hodge can help property developers at every stage of a project, ensuring that opportunities aren’t missed at either end of the development cycle.”