Catalyst Property Finance launches resi and semi-commercial bridging product

The product will cater for light, medium and heavy refurbishment, capital raising, development exit and all borrower credit tiers.

Monthly rates for the product are between 0.65 per cent or 75 per cent open market value (OMV) or 0.69 per cent to 75 per cent OMV.

Procuration fees for the product are set at two per cent alongside a two per cent facility fee. There is also no exit fee or early repayment charges.

Catalyst Property Finance’s marketing director, Anna Bennett (pictured) said: “We’re excited to launch such a competitive product at a time when the property market is so active. Demand for short-term finance is high and this bridging product fills the gap for clients with larger property projects who are in need of a higher leverage loan.”

The product follows news in April that the lender was launching credit repair and automated valuation model residential bridging products and overhauling its rates and criteria.

The lender also brought back two other products for land with planning and its 100 per cent commercial bridging deal.