Spring Finance reduces bridging loan rates

By Bridging Loan Directory 11th July 2024

Specialist lender Spring Finance (Spring) has reduced rates on its residential, semi-commercial and commercial bridging loans.

The residential changes are across both its FCA regulated and unregulated products.

First charge residential bridging finance is now available from 0.89% per month with LTV’s up to 75%; second charge residential lending available from 1.04% with LTV’s up to 65% and semi-commercial and commercial lending now priced from 1.04%.

Jim Baker, sales director of bridging and development said:

“Brokers recognise Spring as a lender that works in partnership with them to deliver clarity, simplicity and good value for their specialist bridging needs.

Certainty of lending decisions and funding is core to our proposition but so is price.

This latest reduction in rate maintains our leading position in the market and demonstrates our confidence that we will soon be seeing reductions in the Bank of England base rate”.