It launches bridging product available at up to 80% LTV
Commercial property lender JMT Finance has extended its lending proposition into the bridging finance sector, with the launch of a bridging loan which is available up to 80% loan-to-value (LTV) with rates set from 1.20% per month and a term of up to 24 months.
The product has a minimum loan size of £50,000 and a maximum of £300,000 with all types of property considered across the mainland UK.
“This is a strategic move which has been implemented on the back of some recent feedback from our introducers and their clients who are looking for a more accessible finance provider at the lower end of the market,” Chris Jones (pictured), managing director at JMT Finance, said.
“We recognise that there are limited options for borrowers who are seeking to borrow around £150,000 or less to assist with their commercial property acquisition. We hope that our offering will help to satisfy that requirement.”
Jones added that JMT is committed to responding to enquiries within one working day and to create tailored lending solutions.
“As a privately funded lender, we are not restricted by lending covenants,” he stressed. “This means we have the flexibility to adjust our products quickly and frequently to meet the needs of our introducers and borrowers. In some instances, we are also able to tailor bespoke products.”
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. You can also follow us on Facebook, Twitter, and LinkedIn.