Funding 365 has cut rates on its residential bridging and light refurbishment products.
Interest now starts at 0.64% per month up to 65% loan-to-value (LTV), 0.69% per month up to 70% LTV, and 0.74% per month up to 75% LTV.
Additionally, the lender is offering first charge, unregulated loans between £100,000 and £5m, with larger loans considered case by case.
Terms are available for up to 18 months.
For light refurbishment, Funding 365 is now offering up to 85% LTV on qualifying loans up to £1 million, with rates from 0.89% per month.
Permitted securities in England and Wales include investment houses, flats, houses in multiple occupation (HMOs), student accommodation, holiday lets without title restrictions, and semi-commercial properties where commercial space is up to 30% of the value.
These products can be used for auction purchases, development exits, and renovations or conversions where costs of works are up to 40% of open market value (OMV), up to 75% loan-to-gross development value (LTGDV).
Paul Weitzkorn (pictured), director at Funding 365, said: “Margins can be tight for developers and landlords, which is why we always strive to provide the sharpest possible pricing.
“We encourage everyone to speak directly to our expert underwriters to experience these new rates with our unique service.”
