Affirmative Finance has launched a scheme designed to make monthly repayments more manageable.
The easy pay plan defers half of the monthly interest payment until the redemption of the bridging loan. Easy Pay is available for loans secured against both residential and commercial property and applies to both regulated and unregulated loans.
A borrower can borrow up to 75% of the open market value of a property using the easy pay facility, and the loan can have a term of up to nine months.
Paul Rumbold, marketing and sales director of Affirmative, says: “In devising the Easy Pay option, Affirmative has recognised that borrowers can find managing the monthly cost of bridging finance difficult.”