Castle Trust reduces bridging rates and launches new special edition range

Castle Trust Bank has launched special edition rates on its light and heavy refurb bridging loans for cases that complete before the end of July, with additional rate reductions on its standard bridging range.

Special edition rates on the Bank’s light refurb bridging loans have been reduced from 0.85% to 0.80% on LTVs between 70% and 80%. There are no time limitations to qualify for the new rate for LTVs up to 65%, which has been reduced from 0.85% to 0.75% per month.

Similarly, special edition rates on heavy refurb bridging loans have been reduced from 0.95% to 0.90% on LTVs between 70% and 80%. The standard rate for LTVs up to 65% has been slashed from 0.95% to 0.80% per month.

The Bank’s standard bridge products up to 70% LTV gross are now 0.75% per month, down from 0.85%, with no time limitations to qualify for these rates.

Anna Lewis, commercial director at Castle Trust Bank, said: “Castle Trust’s Bank’s market-leading bridging range has gone from strength to strength since its launch, particularly with the introduction of net LTV calculations on our specialist light and heavy refurb products, which allow fees and interest to be added above the maximum LTVs.

"We’re delighted to now be able to make the range even more attractive to property investors, with this round of special edition pricing in the key 70% - 80% LTV band, together with other rate reductions at lower LTVs.”