Black and White Bridging unveils criteria improvements

Borrowers with the ‘sales period bridge’ product from Black and White Bridging will now be able to keep 20 per cent of sales proceeds per unit sale. The product is aimed at developers looking to release equity on a scheme nearing completion, and the lender suggested the change meant borrowers would be able to unlock more funds for future projects and growth.

Alongside this change, Black and White has also increased the maximum value of its residential bridging product. Previously, the lender advertised the product as being available from £50,000 to £2.5m, but it says it will now fund deals above £4 million as an add-on at a different rate.

Black and White: ‘Supporting property professionals’

Damien Druce (pictured), commercial director at Black and White, said the lender believed in transparent lending, with the new changes a way to simplify the bridging landscape for brokers.

He continued: “We want our proposition to support property professionals as much as possible, and we will continue to enhance our product sets where we see a gap in the market. I’d encourage any intermediary to speak to us and experience our first-class service and delivery at speed for themselves.”

Last month Black and White joined the Association of Short-Term Lenders.