Cambridge & Counties Bank is now offering bridging loans for commercial and residential investment properties across the UK.
The lender has tested its bridging products since last summer through selected intermediaries in the North Yorkshire and East Midlands regions but has now rolled out to the whole of the UK.
Loans between £100,000 and £1.5m are available for up to 12 months, to a maximum 70 per cent LTV for residential properties. Loans for commercial properties are capped at 60 per cent LTV.
Each case is individually underwritten and rates start from 0.95 per cent a month.
Cambridge & Counties Bank chief executive Mike Kirsopp says: “We have listened to brokers that have asked for us to provide a wider range of finance and can now provide bridging to enable owner-occupiers and investors to access the money they need at the point they need it, meaning their investments can go ahead.”