Catalyst Property Finance has introduced a new commercial bridging product available as a tracker or fixed rate.

Lending is available on vacant properties, care homes, hotels, nightclubs, gyms, warehouses, offices, restaurants, health care centres, retail units, larger schemes, and many more asset types.

Conversion is permitted from commercial to mixed-use or residential, while funding is available up to 65% LTV, with loans from £250,000 to £10,000,000. Loan terms range from three months to 24 months, there are no early repayment charges.

Monthly rates are aas follows:

• 1.04% (BBR at 3.50% + 9.00pa) to 60% LTV
• 1.08% (BBR at 3.50% + 9.50pa) to 65% LTV

Catalyst marketing director Anna Bennett says: “Product innovation is vital if we are to help intermediaries and their clients realise more opportunities in a challenging market. Catalyst’s new commercial bridge does just that, it opens the door for property investors and developers to capitalise on commercial assets that have traditionally been harder to fund.

“Before launch, we spoke to several of our intermediary partners to understand what their clients need from a commercial bridge perspective. We discovered pent-up demand for funding schemes on vacant property, hotels and care homes, plus social spaces such as gyms and restaurants. Happily, this is a demand we can now meet.”