Furness cuts bridging rates
Furness for Intermediaries has reduced rates on its short-term lending products by up to 1.05%.
The lender’s products both have a maximum LTV of 60% and are priced at 4.24% with a £1,499 fee and 4.99% with a lower fee of £499.
And they now come with free standard legal fees for remortgages in England and Wales and a contribution of £150 towards fees in Scotland.
Alasdair McDonald, head of intermediaries at Furness said: “As well as being suitable for standard short-term lending cases, our reduced rates coupled with no ERCs, make our new products a real alternative to bridging finance.
“For example, it is ideal for customers who have found a property but have yet to sell their current one but it’s not exclusive to moving house. So if you’re struggling to place a case that only requires a mortgage for up to two years, give us a call and see what we can do.”
Available for house purchase and re-mortgages, Funess’s short-term lending is available England, Scotland and Wales.
It’s product range is available through both intermediary and direct channels.