Catalyst cuts bridging, auction loans, starting at 79bps – Mortgage Strategy
Catalyst says it has cut loans across a range of products, with options starting at 79 basis points, adding that it will also return to lending at 75% of open market value.
The specialist lender has reduced rates among its everyday bridging, development exit, auction, refurbishment, and refurb-plus super stretch products.
It says its everyday bridging, development exit finance and auction finance rates now start from 79bps.
Catalyst chief executive Chris Fairfax says: “During the last quarter, we onboarded a new funder and negotiated a lower cost of capital with an established line.
“This enables us to reduce rates and increase leverage across some of our most popular bridging products.
“We’re also removing the exit fee from our super heavy refurb product, while keeping rates low.
“2022 was a record lending year for Catalyst, and we have the capacity to fund even more loans in 2023.
“Our key accounts team are booking visits with brokers to present the products and help them identify new borrower opportunities.
“Our in-house sales team are ready to structure heads of terms, they will personally respond to broker enquiries within a working hour.
“And our credit and servicing teams are fully prepared to underwrite the loans, provide funding, and help borrowers with drawdowns and repayments.”