Positive Lending has been selected to distribute a prime short-term lending product priced at 4.5% over BBR with a 1.50% facility fee and no exit fee.

Loans are available from £500,000 to £10 million and up to a maximum of 65% LTV.

The bank seeks security over assets in prime residential areas. First legal charge security is required.

Chris Fairfax, Positive Lending’s managing director, said: “We believe this to be the lowest priced short-term loan product available in the UK.

“This product is great for prime residential refurbishment, chain breaks and capital raising.”

The specialist lending packager and distributor told BestAdvice it had purposefully not disclosed the lender because it did not want to be inundated with agency requests.