Specialist Lendco is cutting bridging rates to “help real estate investors acquire and modernise a property”.
The change applies to its standard bridge product, which can include light cosmetic work such as kitchen or bathroom upgrades if the works do not exceed 7.5 per cent of the property value.
For loans between £100,000 to £500,000, the rate is 0.75 per cent per month, and for loans from £500,000 to £1m, the price is 0.79 per cent per month.
Alex King, executive director of Lendco, said: “With demand for bridging loans increasing throughout this year, we’re very pleased to offer this product to support our brokers and their clients further. As a live example, on a loan of £500,000, the flexibility of our terms means the client can carry out up to £50,000 of decorative works.”
He added: “This offers the possibility of adding substantial value to the property, which, in turn, could have a massive impact on the revaluation and potential entry of the stock into the buy-to-let space.”
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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