"It also suits those looking for smaller advances or those with non standard property construction."
Specialist bridging and buy-to-let lender, Mercantile Trust, has launched a new bridging finance option for when speed is a necessity.
Express Bridge will utilise automated valuations, in house legal process and equitable charges to enable applications to be turned around in days.
Express Bridge can also be used when the customer has experienced recent credit blips in the last 12 months.
Loans are available from £25,000 to £300,000, with a maximum LTV of 65% and no early repayment charges. Rates start from 1.10%, with a minimum and maximum term of three and 18 months respectively.
The product is also available on properties of non-standard construction across England and Wales.
Maeve Ward, director of commercial operations at Mercantile Trust, said: “At Mercantile Trust we are always looking at new ways to help borrowers who are underserved by the rest of the market, and Express Bridge is our latest initiative.
“The product is aimed at those who need rapid access to funds, even if they have had some credit issues over the past 12 months. It also suits those looking for smaller advances or those with non standard property construction”
