Initially available to residential loans only, it can now be used for commercial and semi-commercial loans
Bridging lender London Credit has expanded its Best 4 U promotion to include commercial and semi-commercial loans.
The promotion offers brokers the choice between refunded legal fees, refunded valuation fees, or a reduced interest rate for their clients.
Brokers, when opting for this promotion on behalf of their clients, can select a full refund on legal or valuation fees up to a cap of £5,000 per loan, or opt for a 10% reduction in the loan’s interest rate. The offer applies to commercial and semi-commercial loans that have up to 65% loan-to-value (LTV), with the maximum loan size set at £2 million, provided the legal fees are settled by June 1, 2024.
To avail of the offer, brokers must submit a loan application and communicate their chosen promotion to their business development manager. The selected promotion will be applied to the loan once it is approved.
London Credit’s Best 4 U promo was launched earlier this month and was initially available for residential products only.
“We’re delighted to extend our ultimate offers promotion to our commercial and semi-commercial lending, as it gives brokers even more flexibility to choose the most suitable offer for each loan transaction they bring to London Credit,” said Marios Theophanous (pictured), credit manager at London Credit.
“Being able to choose the promotion that best suits a client gives brokers more control in structuring the most appropriate solution based on the specifics of the loan and their client’s circumstances.”
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