Residential 1st charge refurbishment rates cut to 0.89% up to 70% LTV

The deal completed at 70% loan-to-value with a 1.10% flat rate over 12 months.

The loan was arranged and submitted within four days.

Market Financial Solutions has reduced rates across its fixed-rate bridging loan range, offering more competitive terms for property investors and brokers.

The deal completed in six weeks with a 12-month term at 1% retained monthly interest.

The new rates apply immediately across all new lending.

Heavy refurbishment loans have been reduced by 72bps to 0.83% pm at 80% LTV.

This latest deal follows the completion of an £11.4m hybrid facility on a luxury apartment scheme in Hove.

The deal follows Alternative Bridging’s announcement of a £150m funding line to boost residential lending.

We caught up with Joe Aston from Aria Finance to find out how landlords are using bridging finance and what they need to look out for.