Here’s something to remember next time you encounter a need for bridging finance.
Headline bridging rates can deceive as they are only available to low LTV borrowers.
Typically they offer starting rates around 0.6% but above 65% the rates can quickly rise to well over 1% per month.
This latest loan is the lowest rate on the market for most borrowers.
It starts at 0.65% but is capped at 0.75% right up to 75% LTV.
It’s only available through very limited distribution so give Promise a call with your next enquiry.
Here are the headlines:
- It’s the lowest rate in the market at 75% LTV
- Starting rates of 0.65%
- Arrears and CCJ’s considered – Ignored if over 12 months old
- No Income Proof required
- England, Scotland & Wales
- No ERC’s
- It's for regulated residential 1st charge loans
- Flats up 6th Floor, Ex-Council and lower value properties
Please call your BSM or ask for Marc in the bridging department on 01902 267443. You can also get a DIP form here.
Marc is currently handling cases from £20K up to £30 million so feel free to chat to him for some advice.