Black & White Bridging has agreed a major new funding line of £100 million.

It means Black & White will be able to expand the type of bridging loan it offers to brokers and their clients, and also reduce rates.

Black & White is now increasing its maximum loan size from £2.5 million to £7.5 million, which can be higher on referral and enhanced due diligence.

It will also launch a range of bridging loans with eve more competitive interest rates and variable proc fees.

Martyn Smith (pictured), managing director at Black & White, said: “We have ambitious growth plans, and this new funding line will enable us to increase the speed of our growth while helping intermediaries, investors and developers.

“We aim to make a real difference in the bridging market. Increasing our loan sizes and reducing our interest rates while maintaining excellent service shows our clear intention to make a positive difference.”