Ultimate Finance, the Bristol-based specialist asset-based lender, has made a number of improvements to its product range as it looks to grow further while delivering on its mission to lend more money to UK businesses.
The firm, which has supported 4,000-plus businesses and property investors across the country since its launch more than 21 years ago, has introduced a price reduction for its development exit facilities and key product enhancements across its range of bridging loans.
These come as a direct response to market research with key brokers aimed at ensuring that Ultimate’s bridging offering remains competitive and meets the needs of property developers and investors.
Key enhancements include:
- Price reduction on development exit facilities: These now feature pricing from 0.79% per calendar month (PCM), allowing borrowers to share in the net sales proceeds during the term of the loan and access profits earlier.
- Enhanced light touch refurbishment facility: Offering up to 85% gross loan to value (LTV) on day one, this facility provides immediate access to funds for property improvements.
- Limited PGs now available: Standard purchase and development exit products now come with limited personal guarantees (PGs) for more flexibility.
Ultimate Finance head of bridging finance Liam Cavanagh said: “These product improvements have come as a direct result of our relationship driven approach where we gain valuable insight from our key brokers on what their clients need which allows us to continually enhance our products to meet market demand.
“In such a competitive sector, our ambition is to write more business in this space, and we are confident these enhancements will allow us to support an increasing number of investors and developers across the UK.
“Our flexible funding facilities with a five-star rated service will enable them to capitalise on growth opportunities and meet any challenges they may face.”
Ultimate Finance, which is owned by US private investment firm Tavistock Group, offers a range of funding packages tailored to meet the cashflow needs of UK SMEs.
It supports clients throughout the UK and across a wide range of industries, sectors and stages of growth.