Afin Bank has launched new five-year fixed rates across its owner-occupied, buy-to-let (BTL), professionals and premier/high net worth (HNW) product ranges, with rates starting from 5.69%. The digital bank’s new rates will sit alongside its current two-year fixed and tracker products. Afin’s owner-occupied rates start from 5.89% at up to 90% LTV, while its BTL product is available from 5.69% at up to 75% LTV. On its professional range, its five-year fix starts from 6.14%, while its two-year rate has been reduced by 75 bps to 5.59%. Its premier and HNW products now start from 5.99% and 6.29% as two- and five-year fixes respectively. All products come with a £1,495 fee, apart from the BTL rates, which have a 2.5% fee.

SDKA has reduced its Bridge 75 residential rate by 50 bps to 0.84% per month for loans over £250,000 and up to 75% LTV. The product is designed for property investors with an active interest in BTLs, HMOs and buildings requiring refurbishments. Terms are available from three to 24 months with a maximum loan size of £10m. The lender also recently launched its first-ever bridge-to-term product for loans up to £300,000, secured against residential and semi-commercial properties. The facility is available for 36 months with the first-year bridge period standing at 1% interest per month and the two-year term at 0.875% interest per month.

Arc & Co. and Hampshire Trust Bank (HTB) have completed a £21.5m development facility to support the delivery of a 210-bed purpose-built student accommodation scheme in Nottingham. The sponsor, an experienced developer, appointed Arc & Co. to structure and arrange the facility, with HTB providing the development funding. Construction has begun and the scheme is targeting completion ahead of the 2027 student intake.

---