The product is aimed at customers who need a short-term solution away from their current lender whilst their sale or refinance takes place.
As well as property investors who are in and out of property deals very quickly, frequently transacting, and need help to be more agile in the market.
There is no minimum term, a maximum term three months and available on residential property only on a first charge basis.
The product supplements the lenders existing award winning no valuation product creating speed and flexibility in the market.
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CEO and founder of MS Lending, Michael Stratton (pictured above), commented: "'Day Rate' is a true bridging of the gap.
“Currently based on the slow turnaround times of refinances in the industry as a whole coupled with slower sale timescales, it has never been more pertinent to have a product that offers customers a bridge for a short time.
“As a business we are relentlessly listening to our customers and clients, therefore offering a market leading product where you only pay for the time you need is a no brainer.
“This gives power back to the borrower that there is now an option of a short-term bridge or re-bridge without a minimum term period."
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