Their range will include commercial loans and mortgages with an interest free payment holiday for three months and fixed interest rates. They will also be interest only for the full term (up to 30 years) with a two per cent discount.
New Fixed Rates will be available on all CCA regulated and unregulated commercial mortgages and loans.
Enhancements to existing plans include: development finance, now with up to 100 per cent off the purchase price and up to 100 per cent off the development cost as well as interest rate loading for deferred payments, payment deduction, roll-ups or stage payments.
Clear bridging finance rates will be 1.25 per cent on all loan-to-value (LTVs), property type and status. No interest rate loading for deferred payments, payment deduction, roll-ups or stage payments. Lancashire also states that it will view cases outside of the criteria on their individual merits.
Gary Bailey, director of Lancashire, commented: “We are delighted about our latest products and the benefits that they offer to our brokers. We feel that with the new fixed rate offering and interest free option Lancashire Mortgage Corporation has created a range of lending options for all situations and they satisfy a need in the commercial mortgage market that other lenders do not cater for. The enhanced development finance and bridging options will mean our brokers will be able to complete even more cases in these increasing markets.”
