Short Term Finance Lender and product

BuildStore has organised the funding for Advance via the Skipton Building Society, the UK’s 6th largest building society with assets of over £6 billion. Skipton are dedicated to mutuality and run for the benefit of their members. They are also keen to develop innovative solutions to borrowing requirements and are therefore an ideal partner for BuildStore.

Interest rate payable

You will pay interest on the amount you borrow at 2% above the Bank of England Base rate and as you only pay interest on the amount borrowed, this means that the monthly interest you pay will increase during your build as you borrow more at each build stage. The amount you pay will also alter when the Bank base rate changes. Borrowing at this rate makes Advance cheaper than bank bridging, the traditional way to borrow for a short term.