Castle Trust launches ‘Flexible Zero’ loan
Castle Trust has launched a Flexible Zero product designed to offer alternative types of short and medium term finance.
The lenders second charge loan is linked to the applicant’s property and there are no monthly repayments. The debt is rolled up until maturity of the loan and repaid in a lump sum, although it can be paid off early.
Rates will be calculated on a case by case basis and will be dependent on a range of factors, such as term and LTV. The new product is taken on a fixed rate basis and the term can run from one to five years - the minimum property value is £250,000.
Aaron Strutt, product manager at Trinity Financial, says: “Castle Trust offers other products that take a share of the equity growth in both residential and buy-to-let properties. Their second charges are not suitable for all borrowers, but they tend to be popular with equity rich and cash poor homeowners looking to release funds from their property to invest in more buy-to-lets.”
If you would like help to release money from the equity in your property, call Trinity on 020 7016 0790.
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