Business Lending Group (BLG) has recently launched its new Star Development Loan. This secured loan product is aimed at established home builders with funding up to 80% of gross development costs (or 65% of GDV).<br> <br> Launching the product, Stuart Parfitt, BLG's md, says: "Whilst business confidence is at a bit of a low ebb, looking past the Olympics and summer holiday season we see some great opportunities. Developers looking to deliver housing product into the market in the fourth quarter 2012 and through into spring 2013 have to start building now, hence BLG has readied itself to support them now".<br> <br> The Star product is aimed at expert housebuilders with high quality development schemes, with a headline interest cost of 8.25% plus fees on loans up to £5 million. Parfitt adds: "We are looking to substantially grow our lending book this autumn and we are ready to support the UK home builder sector immediately."