It offers loans between £25,001 and £200,000 at a maximum LTV of 85%, with monthly interest starting at 0.9% per month.
Clients will be offered term options of six or nine months.
- Why is the mortgage market for owner-occupied trading businesses underserved?
- Four specialist finance firms expand teams
- UTB, Recognise Bank, Cornerstone Commercial and Black & White Bridging welcome new recruits
Haydn Thomas, chief commercial officer at Cornerstone Capital (pictured above, left), said: “We are delighted to launch this finance product, reacting quickly to market needs.
“With the property market booming in the UK, the last six months have seen a vast number of enquiries from developers looking to undertake quick refurbishment projects before selling.
“With an increased demand for such refurbishment bridging loans, this product offers developers the short-term flexibility to improve property and therefore add value.”
Leave a comment