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Interest rate war for bridging loans favours house hunters

A recent interest rate war in the short-term funding world of bridging loans is increasing their viability.

Head of sales at Balfours says that whilst mortgage rates have stayed pretty much at same level for a considerable time, this has not been the case for short-term funding; where competition has stepped up.

He explains: “Short term “bridging finance” is now available from 0.49% per calendar month, with no early repayment charges or exit fees. We believe these are now at a level, where to secure the right house, bridging finance can be considered and is viable in certain circumstances.”

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