Catalyst reduces rates across property finance range

Specialist lender, Catalyst Property Finance, today announces the reduction of rates across its property finance range; with lower-cost loans available for bridging, refurbishment, commercial bridging, ‘Flexible’ bridging and Specialist buy to let.

Rate reduction overview:

• Unregulated bridging, auction, development exit, finish and exit finance from 0.79% pm
• Refurb finance with cost of works up to 50% of OMV from 0.85% pm
• Refurb finance with cost of works from 50% to 100% of OMV from 0.89% pm
• Refurb finance with cost of works over 100% of OMV from 0.97% pm
• ‘Flexible’ bridging (adverse credit, inexperienced borrowers, reduced PGs) from 0.99%pm
• Commercial bridging at BBR +7.50% pa
• Specialist buy to let (Latitude) at 8.75% pa.

The lender is also increasing leverages on its second charge and commercial products, both now offering loans to 70% of 180 day value (was 65%).

Chris Fairfax, CEO at Catalyst, says: 

“After what feels like a long time of pricing stagnation in the property finance market, I am extremely pleased to announce a widespread rate reduction across Catalyst’s product range, as well as increased leverages and loan sizes on a number of our specialist products.

Our decision reflects the current state of the UK finance and property markets, which have seen some welcome stabilisation in recent months.

Intermediaries can now support their developer and investor clients with highly competitive funding that provides increased profit margins and less capital outlay.

And, in certain circumstances, these positive changes will enable more marginal property deals to become viable again.”

Anna Bennett, Marketing Director at Catalyst, says: 

“Alongside the reprice, we’ve taken the opportunity to evolve and improve our product offering.

Brokers who have worked with Catalyst before may notice that our range has become a little more streamlined, our criteria simplified, and we’ve refreshed our product guide design.

We’re still offering the same wide range of funding solutions and ‘Catalyst style’ product flexibility, but in an easier to digest format.

I’ve worked closely with our new Sales Director, Spencer Gale, on product naming and visual layout.

We hope brokers find the new look and feel even easier to navigate. If they would like a copy of the new style guides, our New Business Team will happily oblige.”