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West One launches 0.55% rate for bridging loans up to £2.5 million

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West One has launched its lowest ever unregulated bridging rate for loans between £250,000 and £2.5 million. The rate is as low as 0.55%.

As a result of the lender's price cut, loans for properties valued at under £2.5 million will have rates starting at 0.55% up to 50% loan-to-value, ranging to 0.85% for loan-to-values up to 74.5%.

The bridge is available for up to 12 months and there is a one-month minimum term. There is a 2% arrangement fee and are no early repayment charges.

Aaron Strutt, a director at Trinity Specialist Finance, says: “If you are struggling to raise enough money to purchase a property or secure funding for a property development, providing you have a planned exit route a bridging loan might be the solution. 

“There has been a price war in the bridging market for some time as the lenders compete to attract new borrowers and rates have come down significantly.”

Many of the smaller bridging providers have private investors looking for a better return on their funds, so if you’re looking for a bridge, it is worth approaching a reputable company.

Call Trinity Specialist Finance to secure a bridging loan on 020 7016 6151.

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