This month one of our partners released the following product: Bridging Finance – 0.85% per month (1% entry, 0% exit) There are terms that are required to be met in order to be an acceptable Borrower, In order for them please note:
1. Loan needs to be no less than £200,000 and no more than £10,000,000
2. To achieve this rate the loan must be a first charge, the rate will rise to 1% per month if the loan is second charge.
3. The Borrower must have at least 30% equity in the development at any time.
4. The Borrower must have a good credit history and proof of ability to make repayments.