Thursday, February 15, 2024
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Funding 365 is relaunching its stepped rate bridge product with interest starting at 0.49% per month for the first six months.
The rates apply to loans up to 65% loan-to-value and up to 75% loan-to-value. The first charge unregulated product offers loans between £200,000 and £5 million secured against residential properties.
Funding 365's stepped rate product is worth considering for clients who would benefit from a lower initial interest rate and/or who believe they can exit their loan early.
This makes it particularly suited to landlords and developers. "Our flat rate residential bridge product offers some of the best interest rates in the industry, but we found that a few brokers were still asking us to bring back our stepped rate product", said Funding 365 director Mike Strange. Funding 365's bridge loans have no admin fees or early redemption charges.
If you are planning to take a bridging loan it makes sense to shop around to get the cheapest rates and the lowest setup fees. There are lots of firms offering bridging loans in the market now and a lot of pricing competition.
Call Trinity Specialist Finance to secure a mortgage on 020 7016 6151 or book a consultation
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