Bridging lender Bridge Invest has reduced rates across all loan types with rates now starting from 0.69% per month.
Key features of the new product includes gross LTV being capped at 70%, a minimum loan size a £100,000, a maximum loan size of £5m and no hidden fees.
Ronak Ruparell, co-founder and chief executive, added: “We have already completed two loans at these new rates. It’s not just about lower rates though.
“Our common-sense approach to lending, enables us to make quick and simple decisions. Couple that with a relationship-driven approach, our clients receive a seamless service throughout the whole loan process – from enquiry to completion.”
Will Matterson, a business development manager at Bridge Invest, said: “Following conversations with our brokers it was clear that there has been a real shift in the market these past few months.
“As bridging has become more mainstream, borrowers are becoming more rate sensitive.
“Our new rates allow us to remain competitive within the ever-growing market but without needing to sacrifice any key principals.”
The new rates are available across all asset types including residential, mixed-use and commercial and allow borrowers to use loans primarily for property purchases, business purposes and refinance.
