View more on these topics

Drawbridge launches new products

Drawbridge Finance is offering second charge loans up to £2m from 1.3% a month on short term deals and 10.99% up to three years.

The loans are available on short and medium term residential and buy-to-let loans.

The highest LTV rate is 65% available between one month and 23 months, for more than £100,000 and up to £250,000 on £1m properties.

There are also 50%, 55% and 60% products with maximum loans up to £2m, £1m and £750,000 respectively.

The 65% LTV rate is 1.45% a month and drops 0.05% with each 5% LTV.

The deals are exclusive to the lenders’ partners, Positive Lending, Enterprise Finance, First 4 Bridging, Savills Private Finance and John Charcol.

Danny Waters, chief executive officer of Enterprise Finance, says: “We are delighted to be able to offer this market-leading second charge product range to our clients. In little more than a year, Drawbridge Finance has taken the short and medium-term loans market by storm, establishing itself as the lender of choice for the UK’s brokers with rates and a fee structure that beat the competition hands down.”

Paul McGonigle, managing director at Positive Lending, says: “With this exclusive on second charge loans, Drawbridge Finance has once again demonstrated that it is the standout lender within short and medium term finance. Its ability to comfortably lend up to £2m on a second charge basis meets a growing demand among professional property investors and landlords who need agile and proactive lenders.”

Mark Posniak, head of marketing and operations at Drawbridge Finance, adds: “Drawbridge Finance has a significant funds pool to draw on and the message we want to give to brokers with this second charge exclusive is that we are here and have a strong appetite to lend. However complex the borrowing requirements of your clients may be, we are ready to listen and will do our utmost to make the deal work.”

Recommended

Borrowers pushed towards fraud by lenders’ practices

Banks’ restrictive approach to mortgage lending and business loans will create more mortgage fraud. Why? Because borrowers often have no other option. I can use a simple example to explain. Let’s take a fictitious person, Andrew, who has let his home for the last two years because he was living and working abroad and so […]

GDP rises by 1.2%

GDP increased by 1.2% in the second quarter of 2010, according to the Office for National Statistics.

BARCLAYS.jpg

Nominations for Top Of The League awards unveiled

In just a week the first winners of Top Of The League, the joint venture between Woolwich and Mortgage Strategy to reward excellence in the broker market, will be revealed. Winners of the two categories – Player of the Month and Manager of the Month – will win die-cast copies of the Player of the […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Magnus 24th August 2010 at 1:20 pm

    Drawbridge Finance have made their priorities very clear in this very challenging market:generating positive returns and controlling risk…well done to Mark and the Drawbridge team