Funding 365 Slashes its Commercial Bridging Rates to 0.85%pcm
Fast bridging lender Funding 365 has today announced a significant reduction in the starting interest rate for its commercial bridging loan product from 0.99%pcm to 0.85%pcm.
The product - which is available to all brokers - is available for 3 to 12 month loans secured against commercial and semi-commercial properties across England and Wales.
The product’s loan size range is £100,000 to £5 million+ and the maximum LTV is 65%, although access to higher LTVs may be granted with the provision of additional security.
Permitted uses for the product include acquisition of commercial investment property, refinancing of maturing commercial debt, working capital for the business and light property refurbishment.
All of Funding 365’s products can be viewed on their website at www.funding-365.com/products
Funding 365 Managing Director Mike Strange comments,“We are very pleased to introduce this new rate reduction to ensure that Funding 365 products remain at the cutting edge of the bridging market. With residential investment products from 0.65%pcm and our new commercial rates from 0.85%, we’re very much becoming the first choice bridging lender for many of our broker partners."