Spring Finance reduces residential and commercial bridging rates

11 July 2024

Specialist lender Spring Finance (Spring) has reduced rates on its residential, semi-commercial and commercial bridging loans. The residential changes are across both its FCA regulated and unregulated products.

First charge residential bridging finance is now available from 0.89% per month with LTV’s up to 75%; second charge residential lending available from 1.04% with LTV’s up to 65% and semi-commercial and commercial lending now priced from 1.04%.

Jim Baker, sales director of bridging and development said “Brokers recognise Spring as a lender that works in partnership with them to deliver clarity, simplicity and good value for their specialist bridging needs. Certainty of lending decisions and funding is core to our proposition but so is price. This latest reduction in rate maintains our leading position in the market and demonstrates our confidence that we will soon be seeing reductions in the Bank of England base rate”.

About Spring Finance

Spring Finance Limited was established in 2011 as a second charge mortgage lender, lending to customers who don’t meet the normal criteria of high street banks and building societies. It is authorised and regulated by the Financial Conduct Authority for regulated mortgage lending and administration and registered with them for Consumer Buy to Let lending. In March 2022, Spring entered the bridging finance market lending on a first and second charge basis with a mixture of regulated and unregulated loans.

Spring’s focus has always been about treating customers as individuals, and not a credit score. Spring understands that people have different financial backgrounds and believes that just because a customer has bespoke requirements does not mean that they should be excluded from obtaining affordable finance. Spring’s personal and efficient service is central to their relationship-based philosophy and approach to lending.

FOR FURTHER INFORMATION

Jim Baker
Jim.baker@springfinance.co.uk
m: 07870 842613