It follows the launch of a new, revised product price matrix, having doubled its lending volume in 2020.

In addition, the development lender recently funded the first tranche of a £2.6m loan, its largest ever deal to date, within six minutes.

It is now on track to more than double its lending in 2021.

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Yann Murciano, chief executive at Blend Network, commented: “We are thrilled to have been granted full direct authorisation by the FCA. 

“The approval process required the FCA to conduct an extremely exhaustive and thorough due diligence on Blend Network and it required us to disclose extensive information. 

“We believe this authorisation will help us consolidate ourselves as one of the leading development finance lenders in the market and further enhance borrower trust in our business.” 

Roxana Mohammadian-Molina, chief strategy officer at Blend Network (pictured above), commented: “We worked extremely hard to achieve full FCA direct authorisation and this is an enormous success for us. 

“Moreover, this comes at a time where Blend Network is in full growth mode and has been hitting multiple landmarks. 

“This helps generate trust in what we are building at Blend Network.”