Funding 365 has simplified and improved its flexible three-year and bridge to three-year property loan offerings.

The bespoke loans, which can be secured against commercial, semi-commercial and residential (including HMO) properties in England and Wales, are designed to be tailored in terms of pay rate vs retained rate to suit the yield of the borrowers’ properties. Interest rates now start at 6.74% per annum with a minimum pay rate of 4.5%.

Funding 365 have also extended the maximum length of the bridging term which can be included in the bridge to three-year product from eight months to 12 months, in order to provide borrowers with greater scope to be able to exit the loan without any early repayment charges.

The starting interest rate of these bridging terms has also been reduced from 7.49% per annum to 7.25%.

Mike Strange (pictured), managing director at Funding 365, said: “We’ve had a fantastic reaction from brokers to our new three-year products, but we’re always looking at how we can improve our offerings. We’ve managed to sharpen the pricing and simplify the products whilst at the same time increase the flexibility in terms of payment options.

“We believe that for those looking for highly bespoke and keenly priced solutions for longer term projects on a wide variety of properties, our three-year property loans cannot be beaten.”