Once again here at Drawing and Planning we like to keep our clients updated with the best development rates we know of in the market.
This month one of our partners released the following product: Bridging Finance – 0.85% per month (1% entry, 0% exit) There are terms that are required to be met in order to be an acceptable Borrower, In order for them please note:
1. Loan needs to be no less than £200,000 and no more than £10,000,000
2. To achieve this rate the loan must be a first charge, the rate will rise to 1% per month if the loan is second charge.
3. The Borrower must have at least 30% equity in the development at any time.
4. The Borrower must have a good credit history and proof of ability to make repayments.
Should you suit the criteria above and like to apply for this rate please complete the following form.
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