Developed in conjunction with Savills Lending Solutions, the new service will offer brokers the following:
§ Loans from £26,000 to £2 million, with loan-to-values (LTVs) based on open market value
§ Rates starting from 0.75% per month, with interest charged on a daily basis
§ Up to 100% purchase funding available, with terms from one day to one year
§ Available for both residential and commercial property, including development finance, throughout the UK (including Northern Ireland)
§ Non-status loans available, with CCJs and arrears considered on a case-by-case basis
§ No exit fees
§ Mezzanine and development finance can be arranged
The bridging facilities will be provided via a panel of leading lenders including: Alternative Bridging Corp, Affirmative, Cheval, GB Finance Group, Link Lending, Mayfair Bridging and Tiuta. ARs of Mortgage Next and directly-authorised brokers can obtain further information via Mortgage Next’s website: www.mortgagenext.co.uk, where they will also be able to submit an online application, receive a decision in principle and have access to case tracking.
Gemma Harle, Managing Director of Mortgage Next, said: “Bridging facilities have become increasingly popular, as they effectively give homeowners ‘cash buyer’ status and enable them to move quickly in auctions and where a quick completion is necessary. By working closely with Savills Lending Solutions we have been able to develop these highly-competitive bridging facilities, which I’m sure will prove popular with both brokers and borrowers.”
Melanie Bien, spokeswoman for Savills Lending Solutions, said: “We’re delighted to have teamed up with Mortgage Next to offer this comprehensive bridging package to their members. We guarantee to provide a fast and professional service and, in many instances, we will be able to arrange finance in just a matter of days.”
Brokers requiring further information about products and services available from Mortgage Next can phone 01883 333100 or visit the company’s website at www.mortgagenext.co.uk.
