New Velocity Bridging loan offers 90% of auction purchase price
Velocity Bridging has launched a new bridging loan product, offering 90% of auction purchase price.
"With auction property sales becoming ever more popular, the Velocity Bridging team feel confident adjusting our offering to suit the needs of our customers."
The bridging product is available to borrowers purchasing property worth over £100,000 through auction, with no additional security required.
Velocity Bridging, which launched in November 2020, promises a two-week turnaround on the new loan, with no exit fees or valuations.
Iain Johnson, sales and underwriting manager at Velocity Bridging, said: “At present, the housing market continues to show promising signs and with auction property sales becoming ever more popular, the Velocity Bridging team feel confident adjusting our offering to suit the needs of our customers.
“We remain optimistic for the housing market, and we are more than ready to deliver market-leading bridging loans to those who require it.”
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