The Prime Loan Programme will be available for low risk loans starting at 250,000, while interest rates start at 0.75% for Residential Prime and 1.0% per month for Commercial Prime.
The loans are designed for valuable homes, well-let commercial investment properties and good quality residential investments or where there is a low loan to value.
Rates are available for up to 24 months at 65% of valuation secured by office, retail, industrial and residential investment properties and up to 75% for owner-occupied homes.
Brian Rubins, managing director of Alternative Bridging said: “Our intention is that Prime’s competitive rates will enable mortgage brokers to attract and convert proposals they would otherwise lose at prevailing market rates.
“Prime will attract the easier to underwrite proposals, however, through our existing programmes, we will continue to unravel more challenging situations, where a more individual and flexible approach is needed.”
