Specialist bridging and buy-to-let lender Mercantile Trust has unveiled a new financing product aimed at customers in need of rapid transactions.
Named Express Bridge, the lender promises a fast turnaround on loan applications thanks to automated valuations, in-house legal processes, and equitable charges.
The new finance option allows loans ranging from £25,000 to £300,000, with a fixed interest rate starting at 1.10%. The maximum loan-to-value (LTV) ratio is capped at 65%. Loan terms vary from a minimum of three months to a maximum of 18 months, and there are no early repayment charges (ERC).
Uniquely, the product is also available for properties built with non-standard materials, extending its reach across England and Wales.
Maeve Ward (pictured), director of commercial operations at Mercantile Trust, said: “At Mercantile Trust we are always looking at new ways to help borrowers who are underserved by the rest of the market, and Express Bridge is our latest initiative.
“The product is aimed at those who need rapid access to funds, even if they have had some credit issues over the past 12 months.
“It also suits those looking for smaller advances or those with non-standard property construction.”
