Colenko has extended their Triple Lock guarantee across all products to run until the 1st of October.
Triple Lock applies once an Agreement in Principle has been issued, and 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 (LTGDV) for residential properties including HMOs with fixed rates from 0.99%.
Rob Roscoe, CEO of Colenko, said: “With a further rate increase expected in August, and swap rates continually going up, borrowers are worried.
“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.”
Brian Love, commercial finance director at Sedulo, added: “Colenko’s Triple Lock product has been excellent and will be a huge help with further rate rises on the horizon.”
