Ultimate Finance has launched price reductions across its bridging finance range.

The lenders standard purchase and development exit bridge products will be reduced from 0.79% per month, while light refurbishment bridge products will be lowered by 0.89% per month.

In addition, medium refurbishment bridge products will be cut by 0.94% per month.

The lender continues to deliver funding with speed and certainty, with decisions in principle in 24 hours and fully credit backed offers in 72. The move also follows continued expansion of the lender’s Bridging Finance team, with two new Case Managers joining the team in September to support increasing volumes.

Ultimate Finance head of bridging finance Liam Cavanagh says: “Our price reduction is a direct result of the incredible partnerships we have built with our broker network and understanding the market.”

Meanwhile, HSBC has announced rate increases and decreases, effective tomorrow.

Rates will increase across residential home mover, remortgage, buy-to-let and international products.

The UK residential existing customer switching two- and five-year fixed fee saver at 95% loan-to-value (LTV) will go be lowered as from tomorrow two- and five-year fixed premier exclusives at different LTVs will go up.

Selected residential remortgage cashback products will be lowered, including its two-year fixed standard at 70% and 75% LTV as well as its five-year fixed fee saver at 70% and 75% LTV.

In addition, UK BTL purchase products have been increased. These include the two-year fixed standard at 75% LTV, the five-year fixed fee saver at 65% and 75% LTV and the five-year fixed standard with a fee of £3,999 at 60%, 65% and 75% LTV, among others.

Elsewhere, international residential rates have been cut, while for international BTL products, prices have increased.