Castle Trust Bank has cut rates and reduced the arrangement fee across its entire bridging proposition.
The bank has cut rates on bridging loans by up to 20 basis points per month (pm), with heavy refurbishment loans at 70% LTV reduced from 0.95% pm to 0.75% pm.
Alongside this, many products across the range have been cut by 10 basis points per month.
Castle Trust Bank has also reduced the arrangement fee for all bridging loans from 2.25% to 2.00%.
The reductions have been introduced on all bridging loans across Castle Trust Bank’s standard, light refurb, heavy refurb and heavy refurb with drawdown products.
Anna Lewis, commercial director at Castle Trust Bank, said: “At Castle Trust Bank, our award-winning bridging proposition has gone from strength to strength, with features like net LTV calculations for greater leverage, heavy refurbishment bridging loans with drawdowns for cost-efficient project completion, and the use of title insurance and dual legal representation for faster completions.
"And now, with these new lower rates and arrangement fee, our outstanding service and competitive offering will be even more appealing to a wider range of property investors, helping them take full advantage of the opportunities in today’s market.”
