Funding 365

Funding 365 launches new three-year loan products

Funding 365 has launched two new three-year loan products.

The products have been designed as a solution for clients looking for property loans for a longer term than a bridging loan.

Pay rates for the flexible three year and bridge to three year products start at three-month Libor + 3.45% pa, retained interest is between 1–3% pa and borrowers with adverse credit will be considered.

Loans can be up to £3m, with a maximum LTV of 75%, while accepted securities include residential, semi-commercial and commercial buildings across England and Wales.

The bridge to three year product includes an eight-month bridging loan from 7.49% pa, allowing borrowers to exit within that timeframe with no ERCs.

Mike Strange, managing director at Funding 365 (pictured above), said: “Our research found that brokers and borrowers did not have enough choice in the mid-term property finance market, especially in scenarios where the loans would be secured against commercial and specialist properties.

“Our new three-year property loans will provide unrivalled solutions to borrowers who are seeking longer term and more tailored solutions than currently exist in the bridging market.”

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