Ultimate Finance has announced that it is increasing the top limit on its bridging finance to £2.5m, up from £1.5m.
The specialist asset-based lender is also set to reduce the headline rate for its bridging offering to 0.79%, down from 0.95%.
This follows the news that its bridging loan book grew close to £40m last year, representing a year-on-year increase of 23.5%.
Liam Cavanagh, pictured, Head of Bridging Finance at Ultimate Finance, said:
“We’re committed to supporting UK businesses, and offering flexible funding options is key to this, which is why we’ve taken the strategic decision to both increase the maximum size of our bridging loans, while simultaneously decreasing our monthly rate.”