StreamBank has introduced a new bridging finance offering, StreamEdge, with rates starting from 0.66% per month.
The product includes title insurance and a £1,000 contribution towards legal fees, and is aimed at brokers working with residential, semi commercial and commercial property clients.
StreamEdge is available on both a non-regulated and regulated basis, with loan sizes ranging from £400,000 to £1m net, and a maximum loan-to-value of 65%.
The lender confirmed that drawdowns, adverse credit, and re-bridges are not permitted, and only light internal works will be accepted under the product criteria.
Roz Cawood, managing director of lending at StreamBank, said: “This new product gives brokers and their clients a triple whammy of benefits, combining speed and competitive pricing, along with a contribution towards legal fees.
“We believe that StreamEdge can give brokers a competitive edge and, by providing both non-regulated and regulated loans, along with allowing loans across residential, semi commercial and commercial properties, we are giving brokers flexibility and the ability to use this product across a range of clients.”
