Castle Trust has announced the launch of a new bridging loan.
The product is set at 0.67 per cent per month and can be used on first charge buy-to -let cases of up to £1m.
In addition, the offering has a choice of nine or 12-month terms and includes an ERC period of three months.
The loan can be used on all type of refurbishments that do not require planning permission, including upgrade to match building regulations, according to the lender.
Castle Trust director of sales Marcus Dussard comments: “As the demand for short-term finance has grown, we have recognised that an increasing number of brokers are looking for more straightforward bridging loans for their clients, particularly on refurbishment projects, which are becoming more popular.
“We have developed a new product and service proposition that gives a quick, uncomplicated loan with simple pricing, supported by underwriters who understand the market.”