Market Financial Solutions debuts variable rate bridging loans – Mortgage Strategy
Market Financial Solutions has launched a range of variable rate bridging products from 55 basis points, plus the Bank of England base rate.
The specialist lender says these variable products are available across its entire bridging range, at up to 75% loan to value.
The introduction of its variable rates will “provide more flexibility across its bridging range.” the firm points out.
But adds that fixed-rate loans are still on offer alongside the new range, which are available to new and existing clients.
The business, founded in 2006, says it specialises in handling large and complex cases, offering loans of up to £50m, with terms between three and 24 months, “in as little as three days”.
It lends to borrowers with complex backgrounds across a range of property types, with early underwriting available.
Market Financial Solutions chief executive Paresh Raja says: “Interest rates have dominated discussions across the property and lending sectors over the past year.
“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.”