Bridging
Record deals at Oblix Capital spark bridging rate reductions
Specialist lender Oblix Capital has confirmed it will reduce its bridging rates following a significant growth period which included a record set of lending deals and new funding.
A spokesperson from Oblix told Specialist Lending Solutions that it had achieved a new monthly record size in lending volumes, as well as a record development deal in the last six months.
Exact figures are expected to be announced in the coming weeks, the lender said.
It has also secured a new funding line with One Savings Bank and expanded into new offices.
The reduction includes a 0.05% decrease on its 75% Loan to Value (LTV) residential bridging rate.
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In addition to this, both commercial and semi-commercial bridge products have had an entire rate reduction across every loan-to-value size.
Andy Reid, Oblix Capital sales director, said: “As a business, we are currently undergoing a very strong growth period and our latest investments into a brand-new offices along with a full rate reduction underpins our ambition to be a long-term partner for our clients and intermediaries.”
“We are constantly reviewing our products and services to ensure we consistently support our partners projects and growth plans in the best way possible. This rate reduction will also be a timely boost considering the recent base rate increases”.