Triple Lock products now include standard residential, and commercial and refurbishment bridging
Colenko, a specialist lender offering bridging and development finance, has extended its Triple Lock guarantee across all products, to run until October 1.
The lender’s Triple Lock guarantee, which applies once an agreement in principle has been issued, ensures the rate will be honoured on loans that complete by the Triple Lock date.
Colenko’s Triple Lock products include standard residential and commercial bridging, as well as refurbishment bridging up to 75% loan to gross development value for residential properties, including houses in multiple occupation with fixed rates from 0.99%.
“With a further rate increase expected in August, and swap rates continually going up, borrowers are worried,” said Rob Roscoe (pictured), chief executive at Colenko. “With our Triple Lock product, we are doing what we can to provide some certainty – we commit to our rates as soon as we issue an agreement in principle, and we commit for enough time to allow loans to complete.”
For the specialist lender’s Triple Lock refurbish bridge product, customers in England and Wales can borrow up to £1 million with a maximum loan term of 18 months. It is also available to individual and corporate borrowers, including foreign nationals.
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