The new offering is available across the lender’s commercial, refurbishment, and fast-track residential bridging products.
It offers rates from 0.53% over the bank base rate, a maximum 75% LTV and a minimum term of three months, and does not include any exit fees or early settlement payments.
If interest rates change during the loan term, the borrower will have the option to adjust the monthly payments or have the adjustment collected on redemption.
- Choosing the right bridging lender for larger loans
- Tuscan adds free AVMs to fast-track service
- Tuscan implements fast-track process for residential bridging
Colin Sanders, CEO at Tuscan Capital, said: “Given the volatile economic conditions at present and with so much speculation about interest rates increasing over the short- to medium-term, we thought brokers should be armed with the option of fixed or variable interest rates across our product range.
“With interest rates trending upwards, finance providers in all markets will be looking to hedge their position for fixed-term products.”
Richard Deacon, sales director at Tuscan Capital (pictured above), added: “While the certainty of fixed rates can be appealing to customers, the costs for lenders to lock down their own funding becomes expensive in this environment, which can mean that fixed money isn’t the cheaper option — particularly when borrowing a short-term bridge loan.
“By Tuscan offering the choice of a base rate tracker or a fixed product, the broker can help the customer choose the best option for their circumstances.
“It also highlights Tuscan’s continued commitment to evolving and improving its proposition.”
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