Matthew Wyles

Castle Trust launches bridge and term products

Castle Trust Capital has introduced new bridge and term products after revamping its mortgage range.

The new products have the option to roll up or service interest.

Castle Trust has launched a roll-up bridge, which will allow clients to roll up interest for payment on redemption and is available for terms of one or two years, with first and second charge loans available from 0.67% per month.

Serviced bridge products are also available for one or two years and rates are available from 0.58% per month for both first and second charge.

There are no ERCs on the bridging products, but a minimum of three months interest is payable.

“At Castle Trust, we write both first and second charge loans, with the option to roll up some or all of the interest and we combine this with the appetite to do interesting things,” said Matthew Wyles, group executive director at Castle Trust Capital (pictured above).

“It’s a flexible methodology that delivers innovative, solutions – but, for us, flexible also means simple, quick and easy.”

Castle Trust’s new term mortgages are available for fixed rate terms of two to five years with in-term early repayment charges, while rates on term products are available from 6.99% per annum for both first and second charge.

The lender is also able to structure a blend of rolled-up and serviced interest for clients who want greater control over their cash flow.

“We took the Ronseal approach to the way we designed our new mortgage range,” added Matthew.

“Our bridge products are available for one or two years and our term products are available from two to five years.

“These are the simple blocks which can also be used to build bespoke deals, and we think our streamlined new approach will help to make our solution design more accessible to an even greater number of customers.”

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