Bridging and development loans lender Avamore Capital says it has revamped and simplified its suite of products.

The firm says its offering will still revolve around four core products: refurbishment, part complete development and development and bridging.

It says for development loans it maintains its fixed rate of 7.75%, which allows brokers to offer “out of the ground development funding” for clients.

The firm has reintroduced commercial bridging loans alongside its standard residential bridging product.

It will offer commercial bridging from £500,000, adding that loans can be issued based on high-level plans being in place for residential conversion. Its residential bridging product remains the same with the lender maintaining the same rate irrespective of leverage.

The firm adds it will consolidate its light, medium and heavy refurbishment categories to simplify its offering.

It says: “Refurbishment still covers the full range of works from decorative updates to full-scale internal changes but there is no longer an onus on the broker to identify where in the product set the project should fall.”

The business adds that it will now cover, commercial to residential conversions and residential or mixed-use restructuring providing several options to customers.

Finally, the lender has rebranded its finish & exit product, now calling it part complete development.

It says: “The decision to re-label the product comes from wanting to make the benefits of the product clearer. The new name emphasises that Avamore’s product has no minimum build restrictions and highlights that it isn’t just a late-stage product.”

Avamore Capital managing director D’mtri Zaprzala says: “With the current rising rate environment, we wanted to give brokers and developers confidence that we will continue to innovate and find ways to add value.”