Tuscan Capital

Tuscan cuts rates and launches two new products

Tuscan Capital has made a series of changes to its broker-facing offering, including rate reductions, improvements to lending terms, and the launch of two new products.

The bridging lender’s interest rates now start from 0.69% per month for most loan types, down from 0.75%.

It’s maximum loan amount has increased from £7.5m to £10m, and its maximum loan term has been upped to 24 months.

In addition, Tuscan Capital has introduced two new products to its bridging range, which currently includes refurbishment, HMO and auction finance.

It can now offer a developer exit bridging loan, with up to 75% LTV for projects which are close to or have reached practical completion.

The business can also provide change-of-use bridging finance, with up to 75% of purchase price and 100% of build costs for the conversion of commercial property into residential use, where planning permission has been granted.

Colin Sanders, CEO at Tuscan Capital (pictured above) said: “We continue to fine tune our proposition to support the requirements of our broker partners.

“These enhanced terms and product refinements mean that Tuscan Capital can provide more options and flexibility, so keeping us at our most competitive while remaining committed to offering an intermediary-friendly service.”

Earlier this year, the lender expanded its underwriting team and opened its second regional office in Manchester.

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