The product now starts at 0.55% per month, with a LTV of less than 70% and are secured on residential property.
Ian Wilson, CEO at Acre Lane Capital (pictured above), said the lender had been successful at growing its development loan business “significantly” over the past year.
“Unfortunately, we have been unable to mirror our success in the development loan market in the residential bridge loan space.
- B&C roundtable: Is the second charge bridging market growing?
- Acre Lane Capital launches portfolio bridging loan product
- Acre Lane Capital aims to grow loan book by 40%
“Hopefully, the rate reduction, speed of execution, and our straightforward approach will result in a market share more in line with our capability.”
In October 2019, the specialist lender introduced a new portfolio bridging product designed for BTL property investors, available up to £30m.
In May last year, Acre Lane — which launched in August 2018 — reported that 85% of its loan volumes were in development, while 15% were in bridging.
Leave a comment