Anna Lewis, commercial director at Castle Trust

Castle Trust unveils new bridging rates




Castle Trust Bank has unveiled new rates for bridging loan projects, granted they complete before the end of July.

The rates apply to Castle Trust’s light and heavy refurbishment bridging loans, while the lender has also cut rates on its standard bridging finance products.

The rates on Castle Trust’s light refurbishment bridging loans have been reduced from 0.85% to 0.80% on LTVs between 70% and 80%.

There are no time limitations to quality for the new rate for LTVs up to 65%, which has been reduced from 0.85% to 0.75% per month.

Castle Trust has also reduced the rate on its heavy refurbishment bridging loans, from 0.95% to 0.90% on LTVs between 70% and 80%.

Likewise, there are no time limitations to quality for the new rate for LTVs up to 65%, which has been reduced from 0.95% to 0.80% per month.

Castle Trust’s standard bridge products have also had a rate cut.

On products with up to 70% LTV Gross, these are being cut from 0.85% to 0.75% per month. There are no time limitations to qualify for these rates.

Anna Lewis, commercial director at Castle Trust (pictured above), said the new rates were building on the popularity of the lender’s products with the bridging market.

She added: “We’re delighted to now be able to make the range even more attractive to property investors, with this round of special edition pricing in the key 70% - 80% LTV band, together with other rate reductions at lower LTVs.”

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