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Market Harborough improves 'Bridging the Gap' product

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Market Harborough Building Society has improved its ‘Bridging the Gap’ short-term finance rates as it looks to increase lending volumes.

The specialist lending arm of the building society has three separate products to help clients in a range of different situations.

For example, Market Harborough will potentially provide finance if you are purchasing a new home before the sale of an existing property, or you’re renovating a property before selling it on for a profit. It can also refinance a bridging loan if the existing lender is unable or unwilling to extend the term.

For short-term rolled up interest cases up to 12 months the rate is 5.49% variable, and for short-term interest paid loans up to 36 months the rates range from 4.49% to 5.49% variable.

High-net-worth clients can potentially access the lowest rates starting from 4.49% for up to 24 months with interest rolled up, or 36 months if the interest is paid.

These specialist rates have a 2% arrangement fee with a £6,000 minimum, plus a £295 administration fee. Loans are available between £200,000 and £1.5 million and they are capped at 60% loan-to-value. There are no early repayment charges.

Aaron Strutt, product director at Trinity Specialist Finance, says: “If you are looking for raise funds to purchase a property or carry out refurbishment works, we have access to a wide range of lenders able to provide the money quickly.

“With so many lenders operating in this often unregulated market, it is important to make sure you are getting the best deal from a reputable provider.”

Call Trinity Specialist Finance on 020 7016 6151 to secure property purchase or refurbishment funding.

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