The London-based lender’s new pricing structure will see development loans available at a margin applicable to LTV plus three-month Libor.
The new rates came into effect on 12th July and Oblix hopes it will give borrowers added transparency with regards to how their development and light development products are structured.
Oblix has also announced that its development product will be able to fund up to 100% of build costs as well as up to 70% LTGDV.
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“In line with our commitment to bring the best possible proposition to our broker partners and clients alike, we are extremely proud to announce the repricing and further clarity of our development product range,” said Andy Reid, sales director at Oblix (pictured above).
“While we have re-assessed our stance on development business, I can confirm that all bridging products remain on a fixed basis.”
The latest rates can be found on the lender’s website.