JMT Finance has extended its lending proposition into the bridging finance sector.
The privately owned and funded commercial property lender has announced the launch of a bridging loan which is available up to 80% LTV with rates set from 1.20% per month and a term of up to 24 months. It has a minimum loan size of £50,000 and a maximum loan size of £300,000 with all types of property considered across mainland UK.
JMT says its ownership and funding structure enables it to make quick decisions – the lender is committed to responding to enquiries within one working day – and to create tailored lending solutions.
An external valuation process is not usually required; instead, the lender can consider each application on its individual merit.
Chris Jones (pictured), managing director at JMT Finance, said: “This is a strategic move which has been implemented on the back of some recent feedback from our introducers and their clients who are looking for a more accessible finance provider at the lower end of the market.
“We recognise that there are limited options for borrowers who are seeking to borrow around £150,000 or less to assist with their commercial property acquisition. We hope that our offering will help to satisfy that requirement.”
“As a privately funded lender, we are not restricted by lending covenants. This means we have the flexibility to adjust our products quickly and frequently to meet the needs of our introducers and borrowers. In some instances, we are also able to tailor bespoke products.”
