Bridging lender Signature Private Finance has launched a new 0.55% per month product, with a 40% loan to value (LTV).
Available on residential property only, the product offers loans between £250,000 and £1m for terms up to 12 months, with a rate of 0.65% per month also accessible for slightly higher LTV of 50%. It is available until 14 April.
Steve Sanderson, the short term finance provider’s sales manager, said: “Last year Signature delivered a strong performance and we are determined to do even more in 2017 and recognise the need to excite the market with new products, like this latest offering.
“There is always a rush to complete deals in the run up to Christmas and it can create a lull in the first quarter. We are confident these new low rates will encourage introducers and property developers to seek out more value in the market, particularly those properties that perhaps require less work before providing a return on investment.
“Signature has developed a strong portfolio and we feel our products can be tailored to suit almost any situation. We always look for ways to get deals done, rather than turn people down and expect to see a lot of buy-to-let, HMO conversions, property renovations and auction purchases in the next three months.
“To help speed up the process from enquiry to completion, we have business development managers in the North, the Midlands and the South, backed by an experienced underwriting team in the office to ensure we help our clients get their deals done.”