Castle Trust Bank has cut rates and reduced the arrangement fee across its bridging range, while StreamBank launches a residential bridging loan.

Castle Trust Bank has reduced rates on bridging loans by up to 20 basis points a month, with heavy refurb loans at 70% loan to value down to 0.75% a month from 0.95% a month.

It adds that other products have been cut by 10 basis points a month.

The lender has also brought down its arrangement fees for all bridging loans to 2% from 2.25%.

Reductions have been introduced on all bridging loans across the lender’s standard, light refurb, heavy refurb and heavy refurb with drawdown products.

Meanwhile, StreamBank has launched a streamline bridging product for borrowers looking for larger residential bridging loans.

The option starts at 0.65% a month for loan sizes between £500,000 and £1.5m, up to 65% LTV.

It is aimed at high-value, clean-credit cases, and introduces straight-through processing for properties valued at up to £1m using automated valuation models and up to £2m with desktop valuations.

StreamBank managing director of lending Roz Cawood (pictured) says: “By offering highly competitive rates and streamlining the application process for larger, high-quality cases, we’re delivering a solution tailored to the evolving needs of the market.”

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