Bridging lender SDKA has launched its first ever bridge-to-term product.
The mortgage will be secured in opposition to residential and semi-commercial properties and is accessible for as much as 36 months.
Pricing for the first 12 months bridge factor is 1% per 30 days, falling to 0.875% per 30 days for the two-year time period.
SDKA will think about loans as much as £300,000 and no valuation or payment is charged on conversion from the bridging mortgage to time period product.
Brokers might be paid a proc payment upfront, plus an extra 0.5% when the time period factor begins.
The lender says its pre-tax income for the 12 months to March have been £3.7m in what have been “tough market situations”.
SDKA managing director Kunal Mehta says: “We delight ourselves on assessing all circumstances on a person foundation and having versatile funding companions that permit us the choice to finish circumstances exterior of the usual standards, and that’s the reason we’re capable of carry out so properly in a aggressive sector.
“The launch of our first bridge-to-term product provides one other string to our bow and can assist push us onto even larger outcomes, as a result of when brokers and direct candidates have used us as soon as and skilled our distinctive service ranges we all know they are going to develop into repeat prospects.”
