Anna Lewis, commercial director at Castle Trust

Castle Trust revamps bridging range

Castle Trust Bank has made changes to its standard, light refurb and heavy refurb bridging ranges, to include both sale and refinance exit options.

The term times for bridging cases with a sales exit have also been extended to 18 months with no ERC after three months, as well as a maximum LTV of up to 80% net and a maximum LTGDV of 75%.

Fees and interest rates can be added to the loan above the maximum LTVs, with a minimum loan size of £200,000 — rates start at 0.85%.

Castle Trust has also reduced the five-year fixed rate on its TermTen range from 7.49% to 6.39% on loans up to £5m, which can be used for standard BTL, HMOs of up to six rooms, MUFBs and holiday lets.

Anna Lewis, commercial director at Castle Trust (pictured above), said: “Our specialist bridging proposition has been tremendously popular this year, and the inclusion of sale as an exit strategy will make the proposition even more accessible.

“These updates and improvements to our proposition show that we’re listening to brokers and working with them to address the issues being faced by their clients.”


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