West One Loans has launched a new bridging product range with variable interest rates linked to the Bank of England base rate.
The product is available at loan to values up to 70% and is offered across all of West One’s existing bridging product categories, including regulated and unregulated business.
Pricing starts from 0.70% plus base rate for residential and 0.85% plus base for commercial.
Nick Jones (pictured), sales director of West One’s bridging division, said: “Although interest rates have been on the rise recently, it is possible that rates will begin to settle – or even fall – in due course.
“This means fixing rates for shorter-term projects may not always be the better option. By offering this new lower tracker rate alongside our fixed rate range, we are giving our intermediaries and their clients access to a broad choice of competitively priced, funding options.
“In addition to the extra choice on offer, our brokers and applicants will continue to benefit from West One’s speed, flexible underwriting capabilities, and specialist credit expertise, which is why brokers keep coming back to us.”
