Funding 365 Slashes Bridging Rates to 0.59% Residential and 0.69% Commercial

Funding 365 Slashes Bridging Rates to 0.59% Residential and 0.69% Commercial

Fast bridging lender Funding 365 has today announced that it has reduced the starting interest rates for its residential bridging to 0.59% per month and commercial bridging to 0.69% per month.

Fast bridging lender Funding 365 has today announced that it has reduced the starting interest rates for its residential bridging to 0.59% per month and commercial bridging to 0.69% per month.

These pricing levels apply to loans up to 60% and 75% LTV respectively. Higher residential LTVs are available at a higher interest rate. Standard charges are a 2% arrangement fee plus valuation and legal fees at market rate, with no ERCs or exit fees.

Funding 365’s core bridging loans can be used for the purposes of purchasing, refurbishing or refinancing properties, exiting development loans and short term cash flow for terms of up to 18 months.

Accepted securities include a wide variety of residential investment, commercial and semi-commercial properties across England and Wales.

Funding 365 Marketing Director, Laura Kendall comments, “Each of our loans is entirely bespoke, but we publish product guidelines in order to be as transparent as possible. Recently we found that we were writing terms with interest rates that were lower than our guides, so it was time for an overhaul of these to reflect our appetite.”

Funding 365 Managing Director, Mike Strange adds, “These reduced rates solidify our position within the leading pack of bridging lenders in terms of price. In combination with our unique service and unparalleled speed we believe that this makes us the leading lender for bespoke bridging finance.”

Funding 365 Limited is registered in England & Wales / Registered address: 20-22 Wenlock Road, London, N1 7GU / Company Number: 8488034.

Funding 365 Limited is not regulated by the Financial Conduct Authority or under the Financial Services & Markets Act (FSMA). All loans provided by Funding 365 Limited are non-regulated mortgage contracts, defined under Article 61(3) of the FCA Regulated Activities Order or non-regulated contracts under the Consumer Credit Act. Your property may be at risk if you do not keep up repayments on any mortgage or loan secured on it.

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