Specialist lender Together has launched its lowest ever regulated bridging rate at 0.49% per month.
The limited edition product is the lowest published bridging rate from Together in its 43-year history.
The rate is available for loans up to £2.5 million, with larger applications considered on an individual basis, and no maximum age limit.
Together lent £626.4 million of bridging finance in 2016.
Pete Ball (pictured), personal finance CEO at Together said: “This is our best rate yet, and the current market leading rate for regulated bridging loans up to 50% loan to value, so we’re delighted to be able to offer this to our broker partners on a limited edition basis.
“This new rate, coupled with our common sense approach to lending, offers customers a cost effective short-term finance option that can be used in a wide variety of circumstances; whether that’s buying a property, raising capital, or repairing a broken chain.”
Sales of existing properties and proceeds of probate are accepted as repayment strategies, as well as a combination of sale and remortgage where customers use more than one property as security.