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).

•   An interview with Jon Hall and Rob Barnard of Masthaven Bank
•   Funding 365 enhances three-year bridging offering
•   Funding 365 saves deal with Thirdfort software

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%.