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June 03, 2016

Major product shake-up announced

We recently announced major changes to our bridging loan product range, in a move that will undoubtedly make our products more attractive to intermediary partners and their clients.

  • Residential Bridging Tier 1
  • Residential Bridging Tier 2
  • Commercial Bridging

Residential cases that meet the criteria for Tier 1 will enjoy rates from as low as 0.65% through to 0.95% per month at the maximum 75% loan-to-value (LTV). Residential cases that fall outside of this criteria – for example, HMOs, heavy refurbishments and second charge loans – will fall within Tier 2. At the maximum LTV of 75%, the interest rate per month will range from 0.99% to 1.25% on Tier 2 loans, depending on the security provided and the status of the borrower.

Commercial bridging loans, which are available on semi-commercial, commercial and land transactions, have been given their own standalone pricing. Rates begin at 0.8% for semi-commercial loans, and 1% for commercial loans and loans against land.