Bridging lender, SDKA, has launched its first bridge-to-term product.
Available for loans secured against residential and semi-commercial properties, the facility is available for 36 months with the first year bridge period standing at 1% interest per month and the two year term at 0.875% interest per month.
Bridge-to-term is open for loans up to £300,000 with no valuation required when switching to term and no arrangement fee charged on the changeover. Brokers will also be paid at the origination of the loan plus an additional 0.5% when the term element begins.
SDKA is a specialist bridging lender offering products on residential, semi-commercial and commercial properties across England, Scotland and Wales.
The lender offers interest rates from 0.84% per month up to 75% LTV and terms up to 24 months. Its maximum loan size is £10m.
Kunal Mehta (pictured), managing director of SDKA, said: “We pride ourselves on assessing all cases on an individual basis and having flexible funding partners that allow us the option to complete cases outside of the standard criteria, and that is why we are able to perform so well in a competitive sector.
“The launch of our first bridge-to-term product adds another string to our bow and will help push us onto even greater results, because when brokers and direct applicants have used us once and experienced our exceptional service levels we know they will become repeat customers.”
