saxon trust

Saxon Trust launches stepped rate bridging loan

Saxon Trust has introduced a new stepped rate bridging loan product.

The option offers loans between £150,000 and £5m at up to 75% LTV, priced at a discounted rate of 0.55% per month for the first six months.

It has a 12-month term, with a minimum interest period of seven months.

The product is available for properties across England and Wales — including let and multi-unit properties if an assured shorthold tenancy is in place — for a range of borrowers, such as UK residents, foreign nationals and borrowers with adverse credit.

Andrew Gardiner, director at Saxon Trust, said: “We are passionate about understanding the needs of our borrowers and structuring loans that are tailored to meet their unique requirements. 

“We are delighted that new funding has allowed us to develop a loan product that provides many unique benefits, not least of all the ability to assist a more diverse range of borrowers.”

Brian West, head of sales and marketing at Saxon Trust, added: “While we are perhaps better known as a development and stretch lenders this latest announcement underlines our commitment to the bridging sector. 

“In a market where a huge range of lenders compete for a finite number of borrowers, we will always look to bring new opportunities to the sector, opportunities that open up the sector to brand new borrowers.”

Leave a comment