ASG Finance introduces new short-term bridging loans, reducing interest rates to offer cost-effective solutions for property investors.
- Starting rates for these loans are now as low as 0.60%, particularly benefiting those who repay within six months.
- A full 12-month bridging option is available at a reduced rate of 1.10%, catering to varied financing needs.
- These loans are available for properties across England, Scotland, and Wales, with lending limits ranging from £500,000 to £7,000,000.
- ASG Finance emphasises affordability and flexibility to aid investors, developers, and business owners.
ASG Finance has announced the launch of its new short-term bridging loan products, designed to assist property investors, developers, and business owners. These new financial solutions feature significantly reduced interest rates, enhancing cost-effectiveness and flexibility for borrowers.
A key feature of these new offerings is the introduction of a starting interest rate of 0.60% for the ‘stepper’ product. This rate applies to loans that are repaid within the first six months, providing substantial savings for those able to finance quickly. The ‘stepper’ product specifically targets clients poised to take advantage of short-term investment opportunities.
For those requiring a longer financial arrangement, ASG Finance has also lowered the rate for its 12-month bridge loan option to 1.10%, from the previous 1.25%. This adjustment addresses the needs of investors who require extended timeframes, ensuring they benefit from competitive pricing in the market.
These bridging loans are available for projects located in England, Scotland, and Wales, with lending amounts spanning from £500,000 to £7,000,000. The loans offer up to 70% loan-to-value (LTV) based on the open market value, making them a viable option for a range of situations.
Jaxon Stevens, the relationship director at ASG Finance, expressed his enthusiasm for the rate reductions, particularly highlighting the 0.60% stepper product. According to Stevens, these products are designed to supply swift and economical finance solutions for new opportunities in the commercial property sector.
ASG Finance’s new offerings demonstrate a strong commitment to providing competitive, flexible financial solutions for the UK property market.
