Catalyst launches new bridging product
Catalyst has launched a new low-rate, high leverage bridging for loans between £750,000 and £3,000,000.
The product caters for no/light/medium/heavy refurbishment, capital raising, and all borrower credit tiers.
Monthly rates are 0.65% to 70% open market value (OMV) or 0.69% to 75% OMV. Proc fees are set at 2.00%, there is a 2.00% facility fee and no exit fee or ERCs.
Anna Bennett (pictured), marketing director at Catalyst Property Finance, said: “We’re excited to launch such a competitive product at a time when the property market is so active. Demand for short-term finance is high and this bridging product fills the gap for clients with larger property projects who are in need of a higher leverage loan.
“With rates at 0.65% at 75% OMV or 0.69% at 75% OMV, we’ve set up our stall to give brokers a highly competitive product with all the Catalyst criteria flexibility they’ve come to expect. And if your client needs a speedy lending decision, our new business team responds to new enquiries within two hours.”