Market Harborough Building Society has reduced its bridging finance rates by up to 0.02%.
The lender’s new rates now start from 0.62% variable and 0.66% fixed for up to 50% loan-to-value (LTV).
For LTVs between 50.01% and 60%, the rates are 0.68% variable and 0.72% fixed.
Rates for LTVs between 60.01% and 70% are 0.74% variable and 0.78% fixed.
This announcement followed the lender’s enhancement of its short-term range last month, which included products for loans up to £5m and an increase in the maximum LTV to 70%.
Iain Smith (pictured), head of mortgage distribution at Market Harborough, said: “We’re listening to the needs of our broker partners and are delighted to reduce our monthly bridging finance rates.
“This, teamed with the enhancements that we made at the beginning of September, means that our short-term finance is now even more accessible to our partners and their clients.”
