Ultimate Finance has cut rates on residential bridging and reported strong new business growth over the past 12 months.
The lender has reduced starting rates to 0.74 per cent on residential deals up to 65 per cent loan to value (LTV) and to 0.79 per cent on deals up to 75 per cent LTV.
The lender’s loan book size now stands at £75m. It reported over £70m in new business over the last 12 months with £20m occurring in May alone.
According to Ultimate Finance’s chief executive Josh Levy, the first half of this year has seen a higher level of redemptions than in the whole of 2020, which he attributed to improving market conditions.
Levy said: “We know the rate reduction will be welcomed by our introducer partners and their clients. We have substantial capital to deploy and have significant ambitions to build upon our recent successes.
“We will continue to focus on our premium service levels and reputation for delivering what we promise in a quick and flexible manner, putting us in a really strong position going into the second half of the year.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
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