Following the cuts, residential bridging loans are available from 0.75% and commercial loan rates are available from 0.95%, while semi-commercial products start from 0.8%.
The updates are designed to offer competitive financing solutions for borrowers who require short-term funding to meet immediate needs or to take advantage of property opportunities.
A development finance proposition and further changes to product rates will be unveiled at the Finance Professional Show on 8 November at Olympia London.
The lender began piloting the range in October, with products available up to 70% loan to gross development value (LTGDV).
Marios Theophanous, credit manager at London Credit, said: “Our new development finance products, combined with reduced rates on residential bridging, semi-commercial, and commercial loans, are designed to help borrowers achieve their property goals.”
Mind over mortgages: why we need to look after intermediaries’ mental health
Sponsored by Halifax Intermediaries
