"An increasing number of brokers are looking for more straightforward bridging loans for their clients, particularly on refurbishment projects."
Available for a flat rate of 0.67%pm, the new product can be used for first charge buy-to-let cases up to £1 million. The product has a choice of a 9 or 12-month term, with an ERC period of three months.
The loan can be used for all types of refurbishment that do not require planning permission, including refurbishments that do include building regulations.
Brokers can also benefit from online submissions and quick illustrations from Castle Trust's bridging team.
Marcus Dussard, director of sales for mortgages at Castle Trust, said: “At Castle Trust, we’ve developed a reputation for providing brokers with creative solutions for complex cases but, as the demand for short-term finance has grown, we’ve recognised that an increasing number of brokers are looking for more straightforward bridging loans for their clients, particularly on refurbishment projects, which are becoming more popular.
"So, we have developed a new product and service proposition that gives them just that – a quick, uncomplicated loan with simple pricing, supported by expert underwriters who understand the market. Our new bridging loan combines the insight and experience we have developed over the years with a new, more accessible format. It’s a combination we think will prove very popular for brokers and their clients.”
