"Our fixed rate bridging loans continue as normal, but now the variable rates cater to borrowers with different wants, needs and outlooks."
Market Financial Solutions (MFS) has launched a new range of variable rate bridging products.
The lender is offering bridging loans with rates from 0.55% plus the Bank of England’s base rate. The variable products are available across the entire bridging range, with an LTV of up to 75% available.
MFS has launched the variable rates to provide more flexibility across its bridging range. Fixed rates are still available alongside the new variable rate products, which are on offer to both new and existing clients.
Paresh Raja, CEO at MFS, said: “Interest rates have dominated discussions across the property and lending sectors over the past year. At MFS, our primary goal is to support borrowers and brokers by providing innovative, dynamic products – the launch of our variable bridging rates is a prime example of this, giving greater choice and flexibility at a time when it is sorely needed.
“There are plenty of borrowers who do not want to commit to fixed terms, preferring a product that will track the base rate should it come back down after a run of hikes from the Bank of England. We are empowering these people by giving them the choice: our fixed rate bridging loans continue as normal, but now the variable rates cater to borrowers with different wants, needs and outlooks. We are excited to bring this to market and, as ever, will continue to seek ways to improve our offering in line with what brokers and borrowers truly need from specialist lenders.”
