New UX Mortgages drive over finance depot

19/04/2007

The lending arm of property developers UX Mortgages, Urban Exposure has started lending finance in a bridging format.

Last year the firm, which started lending on buy-to-let properties, are now allowing a 15% builders deposit and the company will lend up to 85% loan to value. For the first month bridging loans are on a monthly interest only, initially changing to a daily rate.

Managing director of UX Mortgages Randeesh Sandhu, commented: “We aim to improve on the market, we will be offering our rates with the minimum amount of caveats. We lend on the strength of valuation on all types of property, including those needing work, commercial properties and even those which are currently awaiting planning permission.”

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