The facility sits alongside the specialist lender’s existing institutional bridging funding line with NatWest, which it completed in July shortly after taking its bridging range to market.

According to Spring, the partnership with HTB will allow the finance provider to further increase lending volumes and expand its existing product range over the next year across both bridging and term lending.

The business launched its specialist bridging range to the whole market in June, following a three-month pilot with a select group of brokers.

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Gavin Diamond, CEO at Spring (pictured above), said: “We are delighted to have secured this additional funding line, despite the challenging economic climate.

“The support of HTB is a major endorsement of the collective experience of our senior management team and our ambitious plans.

“Our diversified funding is a vital ingredient in enabling us to continue to provide our growing broker and customer base with certainty of funding, combined with outstanding service levels.”

Daisy Xu, transaction director of the wholesale finance division at HTB, added: “Spring Finance has surrounded itself with a group of highly accomplished and experienced people — this has enabled it to build a very strong bridging proposition in the market.

“Spring is a great example of the type of specialist lenders HTB aims to support and build long-term relationships with.

“We believe Spring Finance is very well placed to succeed in the current market and are delighted to be a part of its growth story."