Tuscan Capital has released its first-ever commercial bridging product as part of its 2022 refresh.
The new mortgage is available at up to 65% LTV (with exceptions) on loans ranging from £100,000 to £5 million for purchase, refinance or capital raising purposes.
The lender will accept applications for commercial premises, offices, warehouses and industrial premises.
Tuscan has also introduced a new term facility, dubbed “Stabilize,” which is a two- or three-year term for borrowers who have completed a renovation project and need to repay their bridging loan while proving their tenancy pattern.
It is aimed at existing Tuscan customers and is available at up to 70% GDV from 0.575% per month.
Tuscany’s Managing Director, Colin Sanders, says: “Our new, broader lending proposition has been made possible by our access to several funding channels separate from the rest of the market.
“Our funding partners complement each other as they have different and different risk appetites. This gives us the flexibility to consider activities that did not typically tick the boxes of institutional backers, and allows us to both price risk competitively while taking a realistic business approach when the quality of the deal justifies it.