It also brings back 75% OMV bridging with rates from 0.79%
Specialist lender Catalyst Property Finance has reduced rates across its Everyday Bridging, development exit finance, auction finance, refurb finance, and Refurb+ Super Stretch products.
With the latest rate cuts, the lender’s Everyday Bridging, development exit finance, and auction finance product rates now start from 0.79%. As well as slashing rates, Catalyst has returned to lending at 75% of open market value (OMV).
The lender has also removed the 1% exit fee on Super Heavy Refurb, without altering the product’s pricing.
𝗥𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝗰𝗵𝗲𝗮𝗽𝗲𝗿, 𝗯𝗶𝗴𝗴𝗲𝗿, 𝗯𝗲𝘁𝘁𝗲𝗿 𝗯𝗿𝗶𝗱𝗴𝗶𝗻𝗴?
— Catalyst Property Finance (@CatalystPF) February 20, 2023
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“During the last quarter, we onboarded a new funder and negotiated a lower cost of capital with an established line,” Chris Fairfax (pictured), chief executive at Catalyst, said. “This enables us to reduce rates and increase leverage across some of our most popular bridging products.
“We’re also removing the exit fee from our Super Heavy Refurb product, while keeping rates low. Ultimately, it means we are offering brokers an even more compelling product range to support their property clients. 2022 was a record lending year for Catalyst, and we have capacity to fund even more loans in 2023.”
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