Bridging lender Funding 365 has launched a new residential bridging loan product with a monthly interest rate of 0.65%.
< 
div>Bridging lender Funding 365 has launched a new residential bridging loan product with a monthly interest rate of 0.65%.
The product, named Prime, is aimed at investors in England and Wales looking to purchase or raise funding against a residential investment property in a short time frame.
Mike Strange, Funding 365 Director, said: “We are very pleased to announce the introduction of our Prime product to the market.
“This product will allow borrowers to access one of the lowest rates available in the bridging market without having to make any sacrifice in terms of speed of execution.
Given that this Prime product complements our commercial product which offers a market leading interest rate of 0.99% pcm, we believe that our broker partners can now view us as not only the fastest bridging provider in the UK, but also amongst the cheapest.”
The product is available for loans of up to £2m with a 50% LTV limit, and no exit fees or early repayment charges.
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