Lendco cuts bridging loan rates

By Bridging Loan Directory 23rd November 2023

Specialist lender, Lendco, has announced a cut-price bridging product to help real estate investors acquire and modernise a property.

The product is a Standard Bridge, is priced as follows and can include light cosmetic works such as kitchen and/or bathroom upgrades, provided the works do not exceed 7.5% of the property value:

Loans from £100k – £500k : 0.75%pm
Loans from £500k – £1m : 0.79%pm

Alex King, Executive Director of Lendco, commented:

“With demand for Bridging loans increasing throughout this year, we’re very pleased to offer this product to support our brokers and their clients further.

As a live example, on a loan of £500,000, the flexibility of our terms means the client can carry out up to £50,000 of decorative works.

This offers the possibility of adding substantial value to the property, which, in turn, could have a massive impact on the revaluation and potential entry of the stock into the BTL space.”