Catalyst increases maximum bridging LTVs
Catalyst is increasing LTVs across its first charge, second charge, and refurbishment bridging ranges.
"We believe higher LTV options for bridging and light refurbishment borrowers are going to be in stronger demand in the short and medium term"
Following last week’s launch into the buy-to-let market, the specialist lender is today refreshing its bridging range and introducing higher leverage options.
First charge bridging is now available up to 80% of Open Market Value, up from 75%, and second charge bridging is now available up to 75% from 70%.
Refurbishment bridging is available up to 80% of OMV, up from 75%, on the light refurb option. Light refurb allows for a refurb budget or total build cost (inclusive of professional fees) up to 50% OMV/50% GDV and up to 25% property footprint expansion.
The new, higher leverage options are available for loans from £100,000 to £500,000. The lender’s standard loan sizes range from £100,000 to £10,000,000.
Chris Fairfax, CEO at Catalyst, said: “We believe higher LTV options for bridging and light refurbishment borrowers are going to be in stronger demand in the short and medium term; Catalyst believes this area is currently undeserved and represents good risk when carefully analysed."
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