New variants of the lender’s existing light refurbishment products have been launched, with pricing starting from 0.78% per month for loans within the £150,000-200,000 bracket.
The additions are available under both the standard light refurbishment product and the light refurbishment with drawdowns option, providing brokers with more flexibility to tailor funding arrangements.
The changes build on a range of recent updates to Castle Trust Bank’s bridging proposition, announced last week, which included product launches, rate reductions, a valuation fee incentive and enhancements to service levels.
Anna Lewis, commercial director at Castle Trust Bank, said: “Last week, we said there were more enhancements to come, and we’re pleased to be delivering on that promise straight away.
“By extending our light refurbishment proposition to customers looking to borrow between £150,000 and £200,000, we’re making our range accessible to a wider range of property investors and giving brokers more options when it comes to finding the right solution for their clients.
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“Light refurbishment can be an effective way for investors to add value to a property, and the option of drawdowns can provide additional flexibility when funding works. These new products combine that flexibility with competitive pricing of 0.78% per month at a lower entry point.”
