Andy Gray

Ascot Bridging cuts rates

Ascot Bridging Finance has reduced its minimum interest rate to 0.75% per month.

This will be available across its core bridging range for acquisitions, remortgage/capital raising, light and permitted development refurbishment (eg single storey extension/loft conversion) and change-of-use of permission.

Andy Gray, senior business development manager at Ascot Bridging Finance (pictured above), said: “We want to reward [our clients] for their continued support.

“With the end of the stamp duty holiday looming, we know we have the expertise to gets deals completed before 31st March 2021.”

In addition, the lender is upping its standard procuration fee on light development deals by 0.5 percentage points.

“We have seen a surge in demand for sensible lending for small, independent developers who are looking to build much-needed homes across the country,” Andy added. 

“Typically, loan requirements for these development deals are all sub-£750,000.”

The product changes are available for any deals that complete on or prior to 31st March.

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