Coreco offers bridging product at 0.60%
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Coreco is offering a bridging product with an initial rate of 0.60% for the first three months, reverting to 1.0% per after for a maximum term of 18 months.
The product is is only available to those within the M25 and is being offered by an unnamed short-term lender.
The product is available up to 75% LTV of the open market value and comes with a 2.00% facility fee, minimum loan of £250,000 and a maximum term of 18 months.
Julian Ingall, director of Coreco Specialist Finance, says: “We are delighted with this product as we believe it fills the gap that many investors and developers have been asking us for many months. This product ideally fits those light refurbishment projects that will be ‘turned’ in a few months or those investors wanting a short term facility before refinancing into long term Buy to Let products”.
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