StreamBank unveils simplified bridging product range
StreamBank has introduced a refreshed product suite, giving brokers three clear groups of bridging loans: residential, commercial and refurbishment.
The new structure responds to broker feedback calling for a cleaner layout of criteria and product purpose. Residential remains the core of the range and now covers both standard cases and refurbishment needs.
Loans are available from £100,000 to £3m, with options for both FCA regulated and unregulated cases.
The range supports terms of up to 18 months on unregulated loans and up to 12 months on regulated loans. StreamBank accepts first charges, as well as combined first and second charges, and offers up to 75% LTV for residential security across England, Wales and Scotland.
Brokers continue to have access to a fast track route for suitable cases.
Automated valuations and desktop reports can be used where appropriate, helping shorten approval times and dual legal representation remains available, with no early repayment charges and no monthly repayments. Interest is calculated daily and cases must show a clear and workable exit.
The commercial range covers quick purchases, change of use and modest works, while the refurbishment suite spans both light and heavy projects. The heavy option includes financing based on LTGDV for more complex schemes.
Commenting on the launch, Roz Cawood, managing director of property lending at StreamBank, said: “Our new enhanced range follows direct feedback from our broker partners who said clearer groups would help them place cases more quickly. The new structure keeps things simple and makes our range easier to use, providing brokers with the tools they need to deliver clients a range of solutions, whether it’s reshaping a portfolio, returning to a development scheme or seeking quick finance to realise their market ambitions.
“We look forward to building on the strong relationships we already have and establishing many more, once brokers have tried the new range.”