Castle Trust Bank has launched a new ‘bridge the gap’ product to provide a flexible solution for borrowers who are approaching the end of a current fixed rate or bridging loan but are reluctant to lock into a new buy-to-let mortgage at this state as a result of high interest rates. The lender said the product will also be useful for property investors who want to gain a letting track record on a property before committing to a long-term loan. The loan features a 12-month term, with serviced interest and a reduced interest rate of 0.52% per calendar month. The option to service the loan enables property investors to borrow more on day one, with a maximum LTV of 75%.

Broadstone has appointed Deon Dreyer as an investment director in its investment consulting team in London. He most recently led Ortec Finance’s UK and Climate & ESG business, where he drove the transition of its climate and ESG solution to a mature offering. Prior to that, Dreyer led investment consulting businesses at PwC and Quantum Advisory, and has also worked at AON, Barclays and Insight Investment. In his new role, Deon will support new and existing clients with his ESG capabilities as the area continues to grow in importance and complexity. This will include Broadstone’s new carbon footprint proposition which will help businesses assess, monitor and set strategies for reducing their carbon emissions.

Pure Retirement has made several enhancements to its classic range of lifetime mortgages in addition to offering personalised pricing and a 21-day KFI rate guarantee. The lender has removed the £500 arrangement fee on all new classic quotes, meaning that advisers will no longer have to compare fee and fee-free product options. Going forward, classic lifetime mortgages will have no upfront fees, with free valuations available on properties up to £2m, while existing classic customers will also benefit from the removal of the arrangement on further advances to benefit those seeking to take out additional borrowing.

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