Mercantile Trust has launched a new bridging finance option for when speed is crucial.
The lender says the Express Bridge is the “perfect solution” for customers that need to transact with speed. The use of automated valuations, in house legal process & equitable charges will enable applications to be turned around in days.
Loans are available from £25,000 to £300,000, with a maximum loan to value (LTV) of 65%. Rates start from 1.10%, fixed for term, with a minimum and maximum term of three and 18 months respectively. There is no early repayment charge (ERC).
The product is also available on properties of non-standard construction across England and Wales.
Mercantile Trust takes a flexible approach to lending where it assesses every application on its individual merit.
Maeve Ward, director of commercial operations at Mercantile Trust, said: “At Mercantile Trust we are always looking at new ways to help borrowers who are underserved by the rest of the market, and Express Bridge is our latest initiative.
“The product is aimed at those who need rapid access to funds, even if they have had some credit issues over the past 12 months. It also suits those looking for smaller advances or those with non standard property construction.”
