"Light refurbishment can be an effective way for investors to add value to a property, and the option of drawdowns can provide additional flexibility when funding works."
- Anna Lewis - Castle Trust Bank
Castle Trust Bank has updated its bridging proposition by extending its light refurbishment range, with the aim of providing greater choice for customers looking to borrow between £150,000 and £200,000.
The bank has introduced new versions of its existing light refurbishment products, available at 0.78% per month for loans from £150,000 to £200,000.
The new options are available across both Castle Trust Bank’s standard light refurbishment product and its light refurbishment with drawdowns product. This aims to give brokers greater flexibility to structure finance according to the individual requirements of their clients and their refurbishment projects.
The launch follows a series of changes to Castle Trust Bank’s bridging proposition announced last week, including new products, reduced pricing and a valuation fee incentive.
"Last week, we said there were more enhancements to come, and we’re pleased to be delivering on that promise straight away," Anna Lewis (pictured above), commercial director at Castle Trust Bank, said.
"By extending our light refurbishment proposition to customers looking to borrow between £150,000 and £200,000, we’re making our range accessible to a wider range of property investors and giving brokers more options when it comes to finding the right solution for their clients.
"Light refurbishment can be an effective way for investors to add value to a property, and the option of drawdowns can provide additional flexibility when funding works. These new products combine that flexibility with competitive pricing of 0.78% per month at a lower entry point."
