This update introduces competitive interest rates for its residential bridging and light refurbishment loans.

The new rates for residential bridging loans begin at 0.74% per month for up to 65% loan to value (LTV), 0.79% for up to 70% LTV, and 0.84% for up to 75% LTV, associated with a 1.5% broker commission. Alternatively, rates of 0.79% for up to 65% LTV, 0.84% for up to 70% LTV, and 0.89% for up to 75% LTV are available with a 2% broker commission.

Highlighting its straightforward approach, Funding 365 points out the absence of administrative, exit, or early repayment charges in these products. The only additional costs are a standard 2% arrangement fee and legal and valuation fees at market rate.

Eligible loans, ranging from £200,000 to £5m, are offered for periods of three to 24 months, secured against a variety of residential properties in England and Wales.

The residential bridging loan is suitable for development exit and auction finance, while the light refurbishment loan supports internal decoration, loft conversions, and conversion to residential or HMO, financing up to 40% of the initial open market value.

For more information, property finance professionals can visit Funding 365’s website or contact their underwriting team directly.

Paul Weitzkorn, director at Funding 365, said: “Our new bridging and refurbishment interest rates move us into the same ballpark as the specialist banks, which is a highly compelling proposition when coupled with our award-winning, personal service and speed of execution.

“We encourage all brokers and borrowers to speak directly to one of our mandated underwriters for bespoke terms within just one hour.”