Mercantile Trust expands into Northern Ireland

Its bridging range is currently available up to 75 per cent loan to value (LTV) on first and second charge bridging loans for residential and refurbishment purposes.  

Rates begin from 0.85 per cent with terms ranging from three to 18 months and loan sizes starting from £25,000 up to £150,000. 

This expansion follows the lender recently joining the Association of Short-Term Lenders (ASTL) and the growth of its sales team with the appointment of Nicola Hughff as its senior business development manager (BDM). 

“A market which will benefit from additional competition”

Maeve Ward (pictured), director of commercial operations at Mercantile Trust, said: “Our expansion into Northern Ireland has been in the pipeline for some time but, as with anything in the mortgage market, we have to undertake strict due diligence and ensure everything is firmly in place before any official launch. 

“This is a market which will greatly benefit from additional competition as options are currently limited in the short-term lending space. Through this expansion, our aim is to provide Northern Ireland-based brokers with choice and opportunity to write more business and better service the short-term needs of their clients.”  

She added: “We already provide buy-to-let mortgages in the region and as a consequence of today’s news can now offer a bridge-to-term option to landlords in Northern Ireland as well. 

“We look forward to engaging with the intermediary community to introduce our extensive bridging proposition.”