Bridging lender MT Finance has reduced rates and raised its maximum loan to value (LTV) to 70% on its first charge residential bridging range.

The lender now offers rates from 0.65% for first charge bridging loans on residential property and LTVs are available up to 70% of the open market value.

Loans start from £50,000 and are available to a variety of borrowers including first-time investors, limited companies, expats, and foreign nationals. Loan terms range from 1-24 months, with no upfront fees, exit fees, or early repayment charges.

Gareth Lewis (pictured), commercial director of MT Finance, said: “We stood by the broker community throughout 2020, and our desire to support our brokers continues into 2021.

“We hope that these improvements to our product offering, combined with our award-winning service levels, will provide the intermediary market with the support they need to offer fast funding solutions to those clients looking to take advantage of the stamp duty holiday and beyond.”