Funding 365 cuts resi and commercial bridging rates

The new rates are available on loans up to 60% and 75% LTV respectively.

Standard charges are a 2% arrangement fee plus valuation and legal fees at market rate, with no ERCs or exit fees.

Laura Kendall, marketing director at Funding 365, commented: “Each of our loans is entirely bespoke, but we publish product guidelines in order to be as transparent as possible. Recently we found that we were writing terms with interest rates that were lower than our guides, so it was time for an overhaul of our rates to reflect our appetite.”

Mike Strange, managing director, added: “These reduced rates solidify our position within the leading pack of bridging lenders in terms of price. In combination with our unique service and unparalleled speed we believe that this makes us the leading lender for bespoke bridging finance.”