The bridging deal has a pay rate of 0.99% and will initially be available to borrowers buying auction properties in London and the South East, with possibility of expanding to other areas.

Funded through an undisclosed funding line, has an arrangement fee of 0.75% and no early repayment fee.

It is available to all mortgage brokers and direct from SPF.

Andre Bartlett, associate director at SPF, said: “We’ve been involved in bridging for a long time, but this is the first time we have had a product that is exclusively available to clients of Savills Private Finance. We see bridging finance as an area of growth and one which we are delighted to put our name to.”

Chris Borwick, associate at SPF, said: “We are delighted to be playing our part in filling the massive gap in funding that still remains in the market and are actively looking for business from other brokers who would like to use the product.”

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