The offer applies to unregulated, first charge bridging loans up to £10 million in value
Independent bridging lender Funding 365 has offered a rebate on property valuation fees to increase cash flow for borrowers using its bridging products to buy property at auction between January 25 and June 30, 2023.
The offer applies to Funding 365’s unregulated, first charge bridging loans up to £10 million in value secured against residential investment, semi-commercial, and commercial property in England and Wales for three to 24 months. All of Funding 365’s bridging products can be used to purchase at auction and carry no admin fees, exit fees, or early redemption charges.
This offer applies to the property valuations instructed by Funding 365 only, and the valuation fees must be paid up front as usual by the borrowers and will be rebated in full within 24 hours of loan completion.
The full terms and conditions can be accessed online through the Funding 365 website.
“Recent interest rate rises have impacted the housing market and we will see the knock on effect of this on auctions in the coming months, with a squeeze on businesses’ cash flow,” Calum Waite (pictured), head of underwriting at Funding 365, stated in a post announcing the rebate offer.
“We hope that our pledge to rebate auction property valuation fees until the end of Q2 will help to mitigate this and support our property investors and developers to deliver on their plans.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter.
