Funding 365 slashes rates across residential bridge and light refurb products
By Tara SammonsFunding 365 has cut rates across its residential bridge and light refurbishment products.
Section: Products
Both products deliver first charge, unregulated loans of between £100,000 and £5m (larger on a case-by-case basis) for up to 18 months.
The light refurbishment product also delivers up to 85% LTV, with rates now starting from 0.89%pm, for qualifying loans up to £1m.
The products cover a range of uses including auction purchases, development exits, and renovations and conversions with costs of works up to 40% of the open market value up to 75% LTGDV.
Funding 365 director Paul Weitzkorn (pictured above) commented: “Margins can be tight for developers and landlords, which is why we always strive to provide the sharpest possible pricing.”
Keywords: Funding 365, Paul Weitzkorn, residential bridge loans, light refurbishment finance, rate cut to 0.64%, first charge loans, unregulated lending, up to 85% LTV, 0.89%pm rates, England and Wales securities, auction purchase funding, development exit loans