Spring Finance launches residential remortgage product

By Bridging Loan Directory 20th March 2024

Specialist lender Spring Finance has announced the release of a 1^st charge residential remortgage product following a successful pilot launch in November last year.

The product range offers loans up to £100,000 and 75% LTV.

The lender has also added a HMO and Airbnb product to its existing 2^nd charge BTL product range as well as simplifying its eligibility criteria for self-employed applicants.

The changes come following a record month of lending in which Spring also increased the size of all three institutional funding lines and appointed several new starters across the business including Will Merry who joined as senior underwriter having previously worked at MFS and Masthaven, and Binay Pun who joined from Equifinance.

Paul Carley, head of sales for mortgages said:

“We are delighted to release these changes to our intermediary panel.

The remortgage product has served a gap in the market, and we look forward to supporting more consumers in this area.”

Shelley Stern, director of mortgages at Spring commented:

“We are delighted to release the 1^st charge product to our intermediaries following a successful trial.

With the recent additions to the team, we are continuing to maintain our service proposition whilst increasing our product offering and capability.”