We’ve enhanced our unregulated bridging product, increasing our maximum loan to value (LTV) from 70% to 75%. The business now caters to a wider range of borrowers, spanning those seeking finance for more complex cases, to best-quality clients with a strong UK credit profile.
Competitive product with simple pricing
Alternative lenders charge depending on the LTV, however, our bridging product is simple. The pricing stays at 0.6% p.m. no matter what level of gearing. This makes it one of the most competitive in the market:
(Data collected by Octopus Real Estate, as at 31 May 2019)
We recognise that in a changing market your best clients need loans that enable them to continually seize new opportunities and grow their portfolio. Experienced borrowers can apply to use this enhanced product if they’re buying at auction, looking to refinance, or simply need speed on their purchase.
Best-quality clients
We’re here to help seasoned property professionals with a good UK credit profile. They don’t have to be a UK national but they will need a clear UK credit footprint alongside what will likely be a strong track record of borrowing.
In terms of properties, we will look at residential assets that offer high liquidity including a strong and viable exit strategy. Deals will be focused on core residential assets that the borrower does not occupy. They will be simple properties rather than those involving planning uplifts.
Fast work on deals
We always work to your client’s timeframe and this product is no exception. Once we have all necessary information, including your required completion date, we will apply dedicated resource to meet your requirements.
Throughout the process our sales, underwriting and case management teams work closely together. Our well-established case management team will work with you and your client to ensure a hassle-free process to completion.
Read our guide here for how this works.
Lending across the spectrum
Having enhanced this product, we’re excited to support the short-term funding market across the whole spectrum. From quirky clients or assets to more established investors, we’re here to help with fast and flexible bridging finance.
Contact your local business development manager, email us, or call us on 0800 294 6850 for more information.
