Spring reveals bridging rate reductions and enhanced criteria

Specialist lender Spring Finance has reduced rates across its bridging product range and enhanced criteria with 75% LTV now being available for residential property purchases.

AVM loan sizes have increased to £200,000 for all first-charge bridging loans up to 65% LTV, with no upper limit on property value. 

The changes are the first of a number of future enhancements that Spring will be making to its specialist lending products. 

In the coming weeks a suite of dedicated non-FCA regulated products will be launched along with lending in Scotland. 

Jim Baker, sales director of bridging at Spring, commented: “Spring has quickly built a reputation as a specialist lender that works in partnership with brokers to deliver clarity, simplicity and good value. 

“Reducing rates and enhancing criteria is a clear sign of our confidence in the market.”

Andrew Bloom, CEO and owner at Spring (pictured above), added: “We have a very exciting roadmap for 2024 and are constantly developing our proposition to achieve our ambition of being one of the UK’s leading non-bank specialist lenders.

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