This significant pricing reduction will see rates now start from as low as 0.47% for regulated and non-regulated bridging for both light refurbishment and our standard bridging ranges.
In addition we are also changing our LTV bandings to now start from 55% LTV instead of 50% LTV and this is all complimented by our criteria that includes:
- Up to 75% LTV
- AVMs up to £1million (no AVM fee)
- Cross charging available
- Permitted Development Rights(PDRs) acceptable on Light Refurbishment including loft conversations
- Joint legal representation available across all products – expediting time to completion
“What about your Refurbishment Buy to Let product range”, I hear you ask? Well this too will benefit and reflect the new changes for the ‘bridging’ element of the product. Making the Refurbishment BTL product even more competitive and remember:
- BTL exit up to 75% LTV based on afterworks valuation figure
- One Application, Underwriter and one Solicitor – reducing costs
- Two Offers (Bridging element and BTL exit offer issued at same time (BTL offer valid for 6 months from valuation)
- Two procuration fees
- Permitted Developments Rights(PDRs) acceptable on Refurbishment Buy to Let
I hope you will agree that these reduced rates and LTV changes combined with our comprehensive range of criteria will be well received by yourselves and customers alike. Lisa and Laurelle will forward the formal communication to you asap in order that you can share it with your members on Monday.
Should you have any queries in the meantime however, please do not hesitate to your Specialist BDM or local BDM who will be more than happy to run through all the changes and how we help even more customers.
