Bridging lender Tuscan Capital has refreshed its broker-facing range with two new products, rate cuts and improved lending terms.

It launches a developer exit bridge loan, with funding of up to 75% loan to value for projects that are close to, or have reached, practical completion stage.

And introduces a change of use bridge, available at up to 75% of purchase price and 100% of build costs for the conversion of commercial property to residential use, where planning permission has been granted.

The specialist lender, which covers refurbishment lending, houses in multiple occupation and auction funding, also brings in three changes across its short-term lending categories.

These will see:

Starting interest rates cut to 0.69% from 0.75% per month for most loan types.

Maximum loan amounts lift to £10m from £7.5m.

And maximum loan terms rise to 24 months from 18 months.

These changes come into immediate effect, while all other terms and conditions remain unchanged.

Tuscan Capital chief executive and co-founder Colin Sanders says: “We continue to fine tune our proposition to support the requirements of our broker partners.

“These enhanced terms and product refinements mean that Tuscan Capital can provide more options and flexibility so keeping us at our most competitive while remaining committed to offering an intermediary-friendly service.”