Funding 365 has pledged to rebate property valuation fees to increase cash flow for borrowers using its bridging products to buy property at auction between 25 January and 30 June 2023.
The offer applies to Funding 365’s unregulated, first charge bridging loans up to £10 million in value secured against residential investment, semi-commercial and commercial property in England and Wales for three to 24 months. All of Funding 365’s bridging products can be used to purchase at auction and carry no admin fees, exit fees or early redemption charges.
Funding 365’s loans are underwritten on a case-by-case basis. This offer applies to the property valuations instructed by Funding 365 only. The valuation fees must be paid up front as usual by the borrowers and will be rebated in full by Funding 365 within 24 hours of loan completion.
Calum Waite, head of underwriting at Funding 365, said: “Recent interest rate rises have impacted the housing market and we will see the knock on effect of this on auctions in the coming months, with a squeeze on businesses’ cash flow.
“We hope that our pledge to rebate auction property valuation fees until the end of Q2 will help to mitigate this and support our property investors and developers to deliver on their plans.”