"We are extremely proud to announce the repricing and further clarity of our development product range."
Under the new pricing structure, development loans will now be available at a margin applicable to LTV plus 3 month LIBOR.
Oblix says the new rates will give borrowers added transparency to how their development and light development products are structured.
Oblix’s development product can also fund up to 100% of build costs as well up to 70% LTGDV.
Andy Reid, sales director at Oblix Capital, said: “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.
“Whilst we have re-assessed our stance on development business I can confirm that all bridging products remain on a fixed basis.”
