New Premium 0.99 per cent BTL Bridging Loan
Key Product criteria:
- First charge only
- Properties in England and Wales only;
- Loan sizes from £100,000 to £3 million (although larger loan sizes will be considered)
- Maximum gross LTV: 65 per cent for purchase, 60 per cent for refinance
- Loan terms from three months to 12 months
- Adverse credit history accepted
- Unregulated loans only
- UK nationals and limited companies only
- Monthly interest rate of 0.99 per cent (paid monthly or rolled up)
- Arrangement fee is 2 per cent
- Valuation and legal fees are required upon application
- No exit fees or early redemption charges
- An interest rebate on early repayment (subject to three months’ minimum interest).
Permitted uses for the product are buying or refinancing BTL property quickly, short term cash flow, buying BTL property at auction, and light property refurbishment.