Regentsmead has launched a new development finance product.
The annual interest rate of 9% is payable monthly, working out at 0.75% per month. Funds can be made available within five working days of an offer being signed and lending decisions can be made in minutes, Regentsmead claims.
Regentsmead lend on projects from the South up to and including the Midlands, and its maximum LTV is 50% GDV.
Regentsmead’s CEO, James Bloom, said: “This product will benefit brokers in search of quick funding decisions. What is more all our introducers receive their fees within a few days of referring a suitable case.