Pink launched into bridging finance at the beginning of August in association with Affirmative, Cheval and Lowry Capital. Bridging finance has evolved over the years from a means to buy a new property before selling an existing one, to a vast array of uses, including buying a property at auction, a means of funding for property developers, buying a buy-to-let portfolio and for capital raising.
John Maclean, Managing Director of Link Lending, commented: “We are very pleased to be able to offer our market-leading lending products and terms to Pink’s ARs and DA broker partners. We are committed to transparency with our terms and are still the only short term lender that guarantees no early redemption charges or exit fees, no upfront processing fee and no minimum borrowing terms with true daily interest. Our legal fees continue to be charged at a flat rate rather than a percentage of the advance, and we have monthly rates starting at 0.75% per month. The interest, calculated on a daily basis, can be rolled up, retained from the advance, or paid monthly. We are confident that this highly attractive proposition will help members of Pink to find more innovative solutions for a greater number of clients”.
Neil Hoare, Associate Director of Marketing & IT, comments: “We are delighted to have added Link Lending to our bridging panel. The lender has an excellent offering for intermediaries and their clients. Features that really stand out in its proposition include daily interest and stepped interest rates linked to LTV, which means that the clients only pay interest on the money they borrow for the time that they borrow it".
