Hodge is doubling the maximum lending amount per single transaction across its existing range of Development Finance products from £5m to £10m.

The move from the specialist lender is designed to open up additional funding opportunities for brokers and developers. The lending maximum applies to products including Development Finance (including residential, alternative residential, commercial and mixed use) and Stretch Senior (additional development finance for experienced developers).

It also applies to Sales Bridge (short term funding for existing clients wishing to release equity towards the end of a project – which has been funded through the development phase by Hodge); and Refurbishment Bridge (short term funding for non-structural property refurbishment projects).

Lending on Hodge’s Acquisition Bridge option will otherwise remain at £5m.

Hodge managing director of commercial lending Kevin Beevers comments on the increased limit: “We are fully committed to helping our clients and brokers achieve their property development ambitions and offering them the option to borrow up to £10m against a single development, while aligning with our residential and mixed-use investment options where we already offer up to £10m, is now another way that Hodge is able to do just that.”