Specialist asset-based lender, Ultimate Finance, has announced a price reduction for its development exit facilities and key product enhancements across its range of bridging loans.
Development exit facilities now feature pricing from 0.79% per calendar month and allow borrowers to share in the net sales proceeds during the term of the loan and access profits earlier.
The lender has also introduced a new light touch refurbishment facility, offering up to 85% gross LTV on day one, providing immediate access to funds for property improvements.
In addition, standard purchase and development exit products now come with limited personal guarantees, offering more flexibility.
Liam Cavanagh, head of bridging finance at Ultimate Finance, commented: “These product improvements have come as a direct result of our relationship driven approach where we gain valuable insight from our key brokers on what their clients need which allows us to continually enhance our products to meet market demand.
"In such a competitive sector, our ambition is to write more business in this space, and we are confident these enhancements will allow us to support an increasing number of investors and developers across the UK. Our flexible funding facilities with a 5-star rated service will enable them to capitalise on growth opportunities and meet any challenges they may face.”
