London Credit has reduced pricing across its residential bridging range by up to 10% pm, with rates now starting from 0.55% pm.
The specialist lender has cut rates across all residential loan-to-value tiers up to 75%, in a move designed to sharpen its position in the short-term lending market and offer brokers more competitive options for investor clients.
At 75% loan-to-value, pricing has reduced from 1.00% pm to 0.90% pm. At 50% loan-to-value, rates now start from 0.55% pm.
The revised pricing is available immediately across the lender’s residential bridging proposition.
London Credit offers bridging loans from £150k to £4m across residential, commercial and semi-commercial property in London and throughout England. Terms range from three to 24 months, with facilities available for auction purchases, refinancing and capital raising. Residential lending is available up to 75% loan-to-value.
Marios Theophanous (pictured), credit manager at London Credit, said: “Pricing matters, but certainty matters more. Brokers need to know that when they submit a case, they’ll get a clear answer quickly and that we’ll deliver on what we agree.
“These rate reductions strengthen our residential proposition, but our core focus remains the same – direct access to decision-makers, pragmatic underwriting and funding that completes on time.
“That combination of competitive pricing and dependable service is what helps brokers win business in a competitive market.”
