Rates on the former product will start at 0.57% per month. The product is aimed at helping developers reduce costs on existing funds and extension fees, while the latter is aimed at helping developers reduce the cost of finance when projects reach “wind and watertight stage.”

Rates on Finish & Sell start at 0.79%.

According to the lender, the products give developers “extra flexibility” should existing lenders be unwilling to extend or are charging higher rates and fees to do so.

“Developers have endured a challenging period over the last two years. Whilst there are some risks they simply can’t mitigate; these new products give them the control and time to ensure they can complete and sell their units in an orderly fashion,” says Saxon Trust head of sales & marketing, Brian West.

“As a lender we are always looking to introduce genuinely innovative product ideas. With our existing borrowers already enjoying the benefits of ‘fee free’ product transfers we look forward to introducing many new developers to the same opportunities,” he adds.

Existing clients may transition automatically from “stretch development” lending rates to the Finish & Sell product, according to the lender, and in due course, to the Market & Sell product as well, on a fee free basis.

According to Saxon, total reductions amount to over 40 basis points (bps).

Loans are available from between £100,000 to £5m, at a term period of between 13 and 18 months.