Funding 365 announces move into development finance
Bridging lender Funding 365 has today announced its expansion into development finance with the launch of its flexible Light Development product featuring interest rates from 0.79% per month.
Designed to enable borrowers to carry out property conversions and heavy refurbishments, or to finish and exit their existing development projects, this customisable product will allow for up to 75% LTV day one with up to 100% of cost of works funded in arrears.
Eligible loans will be between £200,000 and £3million in size and secured against properties in England and Wales for up to 24 months.
Clients can decide how to structure their loans in relation to the number of advances required and whether to structure the loans with or without exit fees.
Borrowers with adverse credit or limited experience will also be considered.
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