StreamBank reduces rates and sharpens valuation criteria

StreamBank has reduced its bridging rates, with loans now starting from 0.59%.

As well as the rate reduction, StreamBank has enhanced its AVM and desktop valuation criteria. It will now consider AVMs up to 75% in certain circumstances, as well as offering desktop valuations on properties up to £2m.

In recent months, the lender has introduced a simplified product structure designed to make its bridging range easier for brokers to understand and place cases.

The lender also combines automated valuation models, title insurance options and experienced underwriting to help brokers move cases forward quickly across its regulated and unregulated bridging range.

StreamBank has also strengthened its team with a series of appointments at the start of the year, including Lorenzo Satchell as national account director, alongside Kendyl Binnie as BDM and Denise Davies as a senior underwriter.

Roz Cawood, managing director of property finance at StreamBank, said: “Bridging finance continues to play an important role in helping brokers and investors move quickly when opportunities arise, and we expect to see further growth in activity over the coming year.

“By reducing our rates and increasing the property values we will lend against, we are giving brokers greater flexibility when structuring deals for their clients.”