Funding 365 cuts rates to 0.64%

Funding 365 has reduced rates across its residential bridge and light refurbishment products.

Interest rates now start at 0.64% per month up to 65% LTV, 0.69% up to 70% LTV, and 0.74% up to 75% LTV.

Both products deliver first charge, unregulated loans between £100,000 and £5 million (larger on a case-by-case basis) for up to 18 months. The light refurbishment product also delivers up to 85% LTV, with rates now from 0.89% pm for qualifying loans up to £1 million.

Permitted securities in England and Wales include investment houses, flats, HMOs, student accommodation, holiday lets with no title restrictions and semi-commercial properties where the commercial element is up to 30% of the property value.

The products cover a wide range of uses including auction purchases, development exits, and renovations and conversions with costs of works up to 40% of the OMV up to 75% LTGDV. 

Funding 365 director, Paul Weitzkorn (pictured), commented: “Margins can be tight for developers and landlords, which is why we always strive to provide the sharpest possible pricing. We encourage everyone to speak directly to our expert underwriters to experience these new rates with our unique service.“