At Expert Mortgage Brokers, we are always on the lookout for the latest and greatest in mortgage products that can help our clients achieve their real estate goals. That’s why we’re excited to share some great news from The Bridging Company, which just launched a new bridging and renewal loan product with some of the steepest rates on the market.
Bridging rates start at just 0.36% on top of the Bank of England base rate, which is currently 0.65% per month. Even if the base price increases, the Bridging Company’s product will still be a cheaper option compared to fixed-price alternatives. For example, comparing two loans of £725,000 with 65% of the property value shows that the Bridging Company’s product will save customers more than £12,000 by the end of the loan term.
Not only are Bridging rates competitive, they also offer loans of up to 70% of the value of homes and semi-commercial properties in England. Their renovation loan covers up to 70% of the costs, including all construction costs, for both light and heavy renovations, making it a great option for real estate investors and homeowners who want to update their homes.