Funding is available up to 65% LTV, with loans up to £10 million
Specialist lender Catalyst Property Finance has launched a new commercial bridging product, which accepts a wide range of commercial property types, including those that have traditionally been harder to fund.
The lender said funding is available up to 65% loan-to-value, with loans from £250,000 to £10 million. Loan terms range from three to 24 months, and there are no early repayment charges. Tracker and fixed rates are available.
Lending can be made on vacant properties, care homes, hotels, nightclubs, gyms, warehouses, offices, restaurants, health care centres, retail units, larger schemes, and other asset types. Conversion is permitted from commercial to mixed-use or residential.
“Product innovation is vital if we are to help intermediaries and their clients realise more opportunities in a challenging market,” Anna Bennett (pictured), marketing director at Catalyst Property Finance, commented. “Catalyst’s new commercial bridge does just that, it opens the door for property investors and developers to capitalise on commercial assets that have traditionally been harder to fund.”
Bennett said that they spoke to several of their intermediary partners to understand what their clients need from a commercial bridge perspective, and they discovered pent-up demand for funding schemes on vacant property, hotels, and care homes, plus social spaces such as gyms and restaurants.
“This is a demand we can now meet,” she added. “Our new business team have been fully briefed and we’re ready to provide terms. Brokers will receive a personal response to their enquiry within a business hour and a super-fast credit-backed decision they can rely on.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter.