Specialist lender Bridge Help has cut its buy-to-let bridging loan rate.

The Chesterfield-based firm has reduced its buy-to-let rate by a quarter of one per cent per month for a maximum loan size of £2m for up to 75 per cent loan-to-value of open market value.

The loan has an 0.75 per cent finance rate, with no exit fees. Brokers are offered 1.5 per cent commission.

The firm says the move is driven by “increasing demand from landlords looking to incorporate their property portfolios in response to the abolition of mortgage interest rate relief last year, and the growth of new investors in the buy-to-let market”.

Bridge Help chief executive Chris Sellars says: “Our new buy-to-let loan rate was initially launched at the beginning of the year as a special offer. Demand has been so strong that we have decided it will remain as an ongoing offer in Bridge Help’s product portfolio.

“It means borrowers and brokers are ideally positioned to take advantage of new property investment opportunities as we transition out of lockdown and puts us on track for record growth.”