Market Harborough Building Society has reduced the minimum loan size from £200,000 to £100,000 across its core bridging range.
The change gives brokers greater flexibility when placing straightforward bridging finance cases, while continuing to benefit from the specialist lender’s wider bridging offering for more complex scenarios up to £5m.
The lender’s core range is designed for more straightforward regulated bridging finance scenarios between £100,000 and £1m for clients wanting a term up to 12 months, with variable monthly rates available up to 70% LTV.
Its core bridging range service guarantee for qualifying cases pledges a DIP issued within four working hours, an offer issued within five working days of application, and a £500 donation to the broker’s chosen charity if timescales go beyond these service levels.
Market Harborough’s bridging finance range for cases up to £5m caters for more complex scenarios such as quirky properties and unusual exit strategies. It also offers increased flexibility for HNW clients, with terms of up to 60 months.
Iain Smith, head of mortgage distribution at Market Harborough Building Society, commented: "By reducing the minimum loan size to £100,000, we're making our core bridge range more accessible to a wider selection of clients who need a straightforward bridging finance solution.
“Our experienced, dedicated bridging finance team has won three industry awards in the last 12 months and our core bridge range is backed by a guaranteed service commitment for qualifying cases, with a £500 charity donation if we don't meet SLAs. Together, they give brokers confidence that they'll receive both expert guidance and a service they can rely on.”
