Apex Bridging has provided the Bridging & Commercial Club with its second exclusive bridging product for its growing number of members.
The product is a refurbishment loan to a maximum of 12 months at 85% loan-to-value of OMV at a rate of 1.15% pm with brokers receiving a procuration fee of 1.50% via the club. This follows the club’s first exclusive deal with Castle Trust.
Tony Bunting of The Bridging & Commercial Club said: “This is another product that our membership has requested.
“Our intention is to bring choice to our members via exclusive products with preferential rates.
“New club members will be invited to contribute new product ideas or enhancements and our growing number of lenders will be collaborating, in the same way as Apex Bridging, to bring the broker suggestions to the market.”
Sonia Shortland, director at Apex Bridging added: “We have significant growth ambitions and believe being a part of this new initiative will contribute to them.
“I believe that The Bridging & Commercial Club will become something many of the networks will support as it establishes itself as a partner committed to supporting networks that are diversifying their models to include education programmes for members wishing to enter the specialist market.
“It continues to surprise me that only 2% of what is now a £6bn market originates from networks and other mortgage club members.”