Market Harborough cuts bridging rates and simplifies LTV bands

Market Harborough Building Society has cut rates across its core bridging finance range by up to 0.12% and streamlined the range into two loan to value (LTV) bands.

The changes take effect immediately and apply to the lender's core bridging products for loans between £200,000 and £1m.

Following the repricing, rates now start from 0.53% per month on a variable basis for cases up to 60% LTV and 0.57% per month for cases between 60.01% and 70% LTV.

The society said the simplified structure is intended to allow more borrowers to benefit from lower pricing.

Market Harborough's core bridging range is aimed at more straightforward regulated bridging finance cases with terms of up to 12 months. The products are available up to 70% LTV and carry a £95 application fee.

The lender also offers a separate bridging finance range for loans up to £5m, including more complex cases and properties.

Iain Smith, head of mortgage distribution at Market Harborough Building Society, said: "We’ve sharpened our core bridging finance range, making it more accessible and even more competitive. It’s part of our continued commitment to delivering value for brokers and their clients, supported by award-winning service from our dedicated bridging finance team."