Savills Private Finance (SPF) has today launched an exclusive bridging product for those purchasing a buy-to-let property at auction in London and the South East. This new product will offer borrowers a pay rate of 0.99% (12.5% APR), a product arrangement fee of 0.75% and no early repayment charges.

Andre Bartlett, Associate Director at SPF, says, ''We have been involved in bridging finance for a long time but this is the first time we have had a product that is exclusively available to our clients. We see bridging finance as an area of growth and one which we are delighted to put our name to.''