Friday, June 23, 2017
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Together has announced its lowest-ever regulated bridging rate at just 0.49% per month.
The first charge and single security on main residence product is available up to 50% loan-to-value for bridging loans between £10,000 and £2.5 million. It has a 2% arrangement fee, no early repayment charges and a maximum term of 12 months.
For regulated bridging loans over 50% loan-to-value, the rate increases to 0.75% per month.
Together typically does not require proof of income and if the repayment strategy is the sale of the property or inheritance, there is no maximum age policy. The lender will consider lending against all types of properties, including non-standard construction and high-rise properties.
Aaron Strutt, product director at Trinity Specialist Finance, says: “There is a huge amount of competition in the bridging market and lenders are regulatory undercutting each other.
“Bridging loans tend to be used if you do not have the cash to complete on a purchase, and you cannot refinance or borrow funds at a cheaper rate.”
Call Trinity Specialist Finance on 020 7016 6151 to secure a bridging loan.
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