Ortus unveils new five-year product

The product from Ortus Secured Finance is available over a five-year term and up to a maximum loan-to-value of 65 per cent. The loan range stretches from £500,000 to £25 million, with an overpayment facility which allows the borrower to repay up to 10 per cent of the loan balance annually without early repayment charges, which applies after year two.

There is an interest coverage ratio (ICR) of 100 per cent from 5.5 per cent plus bank base rate.

The lender said that the new product combines the stability of a long-term mortgage with the adaptability of bridging finance.

Ortus: ‘Logical step in growing our offering’

Jamie Russell, commercial director of Ortus Secured Finance, said that the expansion of the product range was part of its efforts to serve clients and introducers.

He continued: “We have had a particular focus on commercial property since our inception and providing five-year commercial loans was the next logical step in growing our offering.

“This product now enables us to help borrowers and investors for the next step beyond a bridging or acquisition loan.”

A reshuffle of the senior team at Ortus last year saw Jon Salisbury take on the role of chief executive.