Premium Residential Bridging
Premium is a new residential bridging product for loans between £75,000 and £4m. Designed for completed units, Premium enables property professionals to raise finance from completed residential stock to assist with cash flow to purchase future development projects or refinance an existing lender during the sales process.
This product covers loans on single or multiple residential property assets (non-regulated) and on vacant or tenanted Assured Shorthold Tenancies, predominantly in the south of England (south of Birmingham), however, other geographical areas will be considered on a case-by-case basis.
Premium starts from a headline interest rate of 5.49% per annum. With a zero exit fee, this six, nine, or twelve-month product has a built-in extension option with a 0.4% fee per additional three months, up to a maximum term of 36 months.
Our target turnaround is three weeks from acceptance of terms to the drawdown of funds and is provided with a dedicated account manager for each case giving clients fast, flexible finance, and MSP’s high level of service.
We have designated a second tranche of £50m aimed at the Residential Bridge and Development exit markets. Due to the high demand, work is already underway to look to release further funds in the coming months.
Premium is a welcomed new addition to our bridging product portfolio and represents some of the most competitive terms in the market place.
To find out how MSP can support you with fast and flexible finance call us on 01202 743400 or Enquire Now
Our premium residential bridging product includes the following features:
- Interest rate from 5.99% per annum (Serviced monthly or part rolled up)
- Loans from £75k to £5m
- Up to 70% LTV
- Arrangement fees from 1.75%
- Target turnaround of 3 weeks
- Dedicated Account Manager
- 6, 12 or 18-month product
- Southern England (south of Birmingham) other geographical areas considered – get in touch.
- No exit fees
- Residential property vacant or tenanted ASTs