Tiuta has cut rates on its bridging products by up to 0.40%.
The short to medium term loan specialist lender says the reduction applies to loans with an LTV of between 60% and 75% on an open market valuation (OMV) for properties in England and Wales.
The reduced interest rate for loans between 51% and up to 75% LTV at OMV will now be from 1.25% per calendar month (pcm).
Previously interest rates were from 1.25% pcm solely for deals between 51% to 60% LTV (OMV). Interest rates for 61% to 70% LTV (OMV) were formally from 1.45% PCM and 71% to 75% LTV (OMV) from 1.65% pcm.
Tiuta’s rates on loans up to 50% LTV (OMV) will remain from 0.95% pcm.
Tiuta is offering to refund valuation fees upon completion across its range of residential bridging products for applications that complete by Friday 1 April up to a maximum value of £500.
Guy Garrard , head of business development at Tiuta, said: “With the more mainstream market still suffering from limited volumes of lending it is up to innovative specialist lenders to help arm intermediaries with viable alternatives for their clients.