Bridgebank Capital has unveiled a new residential investment buy-to-let bridging product for experienced property landlords.
It is priced at 0.85%.
It is designed to fund residential buy to-let investment property, and will include cases requiring light refurbishment.
Interest on the bridging loan will be calculated on a daily rate basis, with no exit fees. The product will also be available for portfolio purchases and refinancing with no restrictions on number of units to be funded, and with no minimum rental cover pre-requisite at the time of the bridging advance.
Providing applicants meet the product underwriting parameters, they will be offered this product at the rate promoted.
Steve Woods (pictured), head of sales at Bridgebank, said: “We are thrilled to announce another development in our lending criteria. We have made a number of changes in recent months and this change further demonstrates our commitment to supporting brokers and their clients by providing competitive, fixed and transparent rates.
This product has been specifically developed to attract volume quality buy-to-let bridging business with cost certainty for borrowers supported by our established leading service level support offering. We are looking to materially increase our loan book and see this product specifically as having high volume demand.”
