Paul Weitzkorn

Funding 365 launches 75% LTV stepped-rate bridging product

Specialist lender Funding 365 has today (14th October) introduced a new residential bridging offering with a stepped interest rate to deliver 75% LTV loans at 0.59% per month for the first six months.

From month seven onwards, the rate increases to 1.2% per month, up to a maximum term of 18 months.

The product can be used for buying or refinancing residential investment properties, carrying out light to heavy refurbishments, exiting development projects, and managing short-term cash flow.

Eligible loans are between £100,000 and £5m and secured against residential investment properties in England and Wales.

“Delivering the best possible solutions for borrowers is a passion for everyone here at Funding 365, so we’re really excited to be launching this market-leading product,” said Paul Weitzkorn, director at Funding 365 (pictured above).

A 2% arrangement fee will be charged, in addition to legal and valuation fees at market rate.

There are no early repayment charges, admin or exit fees.

“…As with all of our bridging loans, we refuse to add any admin or exit fees which can fly under the radar and really add up for borrowers,” added Paul.

“There are simply no hidden catches to this product.”

In August, Funding 365 entered the development finance market with a flexible light development product, and has since sharpened the pricing on this offering, with interest rates now from 0.74%.

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