Funding 365 slashes commercial bridging rate
By Tom WrightFunding 365 has reduced the starting interest rate for its commercial bridging loan product to 0.85% per month
Section: mobile apps categories
Funding 365 has reduced the starting interest rate for its commercial bridging loan product to 0.85% per month.
The product, which previously had a rate of 0.99%, is available to all brokers for 3 to 12 month loans secured against commercial and semi-commercial properties.
Mike Strange, Managing Director at Funding 365, said: “We are very pleased to introduce this new rate reduction to ensure that Funding 365’s products remain at the cutting edge of the bridging market.
“With residential investment products from 0.65% pcm (per calendar month) and our new commercial rates from 0.85%, we’re very much becoming the first choice bridging lender for many of our broker partners.”
The product, which is available in England and Wales, is suitable for a range of uses including commercial investment property acquisitions, the refinancing of maturing commercial debt, working capital for businesses and light property refurbishment.
Keywords: Bridging Finance, Commercial Finance, Bridging Lender, Commercial Lender, Alternative Finance, funding 365, mike strange, commercial bridging, property acquisition, refinance, property refurbishment