Positive Commercial Finance has secured an exclusive bridging finance product and a semi-exclusive development finance product from a new-to-market funding line.
The funder is undisclosed but the distributor said it is headed up by a “very experienced team with an impressive track record in the industry”.
Product details are as follows:
Bridging finance product:
- Up to 75% loan to value (based on Open Market Value) 2% Arrangement Fee (with no additional broker fees)
- Interest at 0.58% pcm
- No exit fees or ERC’s & no minimum interest period
- Up to 24 months
- Minimum loan size £250k
- No maximum loan size
- Residential property only (& unregulated business only) England & Wales only
Development finance product:
- Up to 70% Loan to GDV or 85% Loan to Total Project Costs (whichever is the lower) 2% Arrangement Fee (with no additional broker fees)
- Interest at 8% per annum, charged against the drawn sum 1% Exit Fee (based on the facility amount
- Up to 24 months
- Minimum loan size £500k
- No maximum loan size England & Wales only
- Residential schemes only. A small element of commercial can be considered in a mixed-use scheme.