Ultimate Finance has lowered rates across its bridging range, showing its “appetite to back more bridging transactions and support property developers and investors’ ambitions”.
The firm said the changes would come into effect immediately.
Standard purchase and development exit bridges begin from 0.79% per month, while light refurbishment bridge products are priced at 0.89% per month and medium refurbishment bridges start from 0.94% per month.
The lender said it could deliver decisions in principle in 24 hours and fully credit-backed offers in 72 hours.
Liam Cavanagh (pictured), head of bridging finance at Ultimate Finance, said: “Our price reduction is a direct result of the incredible partnerships we have built with our broker network and understanding the market. We’ve listened closely to feedback and sharpened our pricing to give clients even more confidence to move quickly on the right opportunities.
“Our commitment to supporting developers and investors is unwavering – and today’s announcement shows that we’ve got the funding solutions, flexibility and relationship-based service model that our brokers, developers and investors can rely on.”
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Ultimate Finance recently appointed Paul Hansen to the newly created role of asset finance sales director.
The National Association of Commercial Finance Brokers (NACFB) also recently brought on Josh Levy, Ultimate Finance’s CEO, in the role of non-executive patron director on its board.