Catalyst has launched a ‘low rate’ product for larger bridging loans.
Monthly rates are 0.55% at 70% Open Market Value (OMV) or 0.59% at 75% OMV.
The intermediary exclusive product has a £20 million tranche and is available for residential and semi-commercial bridging loans of over £750,000.
This product is available for auction purchases, development exits, purchases, refinances, rebridges on residential and semi-commercial assets in England and Wales.
James Farge, head of new business at Catalyst Property Finance, said: “This bigger loan, higher leverage, the low-rate product has been designed to help brokers compete against high street lenders.
“With rates at 0.55% per month to 70% of Open Market Value and 0.59% at 75% of Open Market Value, it allows borrowers to achieve a higher net position and an ability to stretch their capital further.
“Even though we are reducing our interest rates at higher LTVs, we stand committed to our broker network, offering a 2% proc fee.”
