MT Finance has cut rates and raised its maximum loan-to-value to 70 per cent on its first charge residential bridging range.

The specialist lender says its rates now range from 0.65 per cent for first charge bridging loans on residential property and LTVs are available up to 70 per cent of the open market value.

Its loans start from £50,000 and are available to a variety of borrowers including first-time investors, limited companies, expats, and foreign nationals. Loan terms range from one to 24 months, with no upfront fees, exit fees, or early repayment charges.

MT Finance commercial director Gareth Lewis says he hopes the move “will provide the intermediary market with the support they need to offer fast funding solutions to those clients looking to take advantage of the stamp duty holiday and beyond”.

Tamworth-based Crystal Specialist Finance managing director Jo Breeden says the move by MT Finance shows its “commitment and desire to be leaders in the short-term sector”.