Market Harborough Building Society has halved the minimum loan size on its Core Bridge range from £200,000 to £100,000.
The change widens access to the lender’s regulated bridging range for more straightforward cases, while its separate standard bridging proposition continues to cater for more complex transactions.
Core Bridge is available for loans between £100,000 and £1 million, with terms of up to 12 months and variable monthly rates at up to 70% LTV.
SERVICE COMMITMENT
Qualifying Core Bridge applications are covered by a service commitment under which Market Harborough aims to issue a decision in principle within four working hours and an offer within five working days of application.
If those service levels are not met, the building society will make a £500 donation to a charity chosen by the broker.
Iain Smith (pictured), head of mortgage distribution at Market Harborough Building Society, says: “By reducing the minimum loan size to £100k, we’re making our Core Bridge range more accessible to a wider selection of clients who need a straightforward bridging finance solution.”
He adds: “Our experienced, dedicated bridging finance team has won three industry awards in the last 12 months and our Core Bridge range is backed by a guaranteed service commitment for qualifying cases, with a £500 charity donation if we don’t meet SLAs.
“Together, they give brokers confidence that they’ll receive both expert guidance and a service they can rely on.”
COMPLEX CASES
Market Harborough’s wider bridging range provides loans of up to £5 million and is intended for cases involving more complex circumstances, including unusual properties and exit strategies.
The lender also offers terms of up to 60 months for high-net-worth clients.
