CashNews.co
Ultimate Finance has reduced rates across several products in its bridging finance offering.
Rates across its exisiting bridging loans have been cut by as much as 0.84%.
With political certainty and stability now set, inflation levels much reduced and the Bank of England base rate cut, the lender said it is confident that it’s funding solutions will continue to prove valuable in the months ahead as specialist lenders continue to play a vital role in plugging the mainstream funding gaps.
Liam Cavanagh, head of bridging finance, said: “We are committed to supporting the property industry and it is important to us that our offering remains competitive.
“By working in partnership with our brokers, we reported £52m of new business in H1 and our Bridging loan book reached £100m, its highest ever level.
“We are certain that these reduced rates will allow even more property developers to benefit from the funding and support they need to meet their ambitions.”