Funding 365 increases maximum loan term to 18 months
Fast bridging lender Funding 365 has today announced the extension of their maximum loan term from 12 to 18 months, in response to demand from their broker partners.
This increased loan term will apply to all of their bridging products with the exception of their Short Lease Bridge, which will remain at 12 months.
This announcement comes just one month after Funding 365’s decision to officially increase their maximum loan size to £10million, and is part of their move to broaden their offering.
Funding 365 Marketing Director, Laura Kendall comments, “At Funding 365 we’re always listening to our broker partners and striving to find new solutions to meet their clients’ needs. We identified longer loans as something that was being requested with increasing frequency. We pride ourselves on being extremely competitive, and with super low rates (from 0.65%pcm for residential and 0.75%pcm up to 70% LTV for commercial properties), plus now loans up to £10million for 18 months, we envisage that 2018 will continue to be a very busy year!”