Bridging lender Funding 365 has extended its maximum loan term from 12 to 18 months.
The increased term applies to all bridging products with the exception of its short-term lease bridge, which will remain at 12 months.
Laura Kendall, marketing director at Funding 365, said: “At Funding 365 we’re always listening to our broker partners and striving to find new solutions to meet their clients’ needs.
“We identified longer loans as something that was being requested with increasing frequency.
“We pride ourselves on being extremely competitive, and with super low rates (from 0.65%pcm for residential and 0.75%pcm up to 70% LTV for commercial properties), plus now loans up to £10m for 18 months, we envisage that 2018 will continue to be a very busy year!”
Last month Funding 365 increased its maximum loan size to £10m.