Mercantile Trust has added a new fixed-rate bridging finance option.   

The specialist lender says the first and second charge loans are available across its entire bridging range, along with existing variable rate options, with a maximum loan to value of 75% — or, 70% in Northern Ireland.  

There is no minimum term, with a maximum term of 18 months and rates starting from 1.06% per month. It adds loan sizes start from £25,000 throughout England, Wales, Scotland and Northern Ireland. 

First-time landlords and first-time buyers are eligible, alongside property professionals, says the specialist  bridging, buy-to-let and commercial lender.

Mercantile Trust director of commercial operations Maeve Ward says: “Mercantile Trust will be announcing a series of new products over the next few weeks, all designed to expand our offering and offer alternative solutions for brokers and their clients.  

“Our new fixed rates provide greater options, plus certainty and flexibility to bridging customers, and will also appeal to those requiring smaller advances compared to those typically offered in the market. 

“Our use of automated valuation models and in-house legals enable applications to be turned around very quickly when timing is paramount.  

“In addition, we encourage brokers to refer cases to the Mercantile Trust mortgage desk as they will assess each enquiry on its merit, offering solutions that otherwise might not have been available.”