Catalyst increases maximum bridging LTVs

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."