The offering — which can be used for auction purchases, light refurbishment, development exit and quick capital raises — can provide loans from £100,000-1m up to 65% LTV, with a 2% fee.

The product is available on habitable residential property throughout England and Wales for a maximum loan period of 18 months.

However, Jon Salisbury, managing director at Ortus Secured Finance (pictured above), stated that the latest enhancement wasn’t all about rates. 

“We know the rate will be welcomed by our brokers and their clients, but we also know that price isn’t the only factor in choosing a lender,” he commented. 

Consequently, the specialist lender has also upgraded its processes and legal panel to increase turnaround times.

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“We’ve listened to the feedback from the broker community and have streamlined our processes and updated our legal panel to reflect the more straightforward nature of this sort of product — something we know is key in our industry.

“We are proud to have continued to lend throughout the pandemic, expanded our team and offices, and become a CBILS-accredited lender, and so we hope that these improvements are just another way to show our commitment to the market that we are in for the long haul and will ensure that we continue to remain a reliable option for brokers.”  

Richard King, head of sales at Ortus Secured Finance, added: “The impact Covid-19 has had on the residential market has meant that we are seeing a growing demand for bridging and, as a result, borrowers are increasingly looking for greater flexibility and speed in a busy market.

“For many borrowers, this is a compelling proposition.”