Lender Catalyst Property Finance today launched improved lending criteria for their bridging, development exit finance and refurbishment products.
The improvements include higher maximum loan sizes, higher LTVs and more repayment options for borrowers.
Chris Fairfax, CEO at Catalyst Property Finance says:
“Remaining at the top of intermediary’s consideration sets for Bridging Finance is of the utmost importance for Catalyst. My team is continuously looking for ways to further improve our short-term finance proposition and this month we are delivering some more criteria improvements across the range.
"Demand for larger loan sizes is escalating; in fact, our average loan size doubled in 2020. Therefore, we are increasing maximum loan sizes across the board from £3,000,000 to £5,000,000.
"We are also able to provide borrowers with more choices of how to repay their loans, with options for serviced, blended or retained interest payment.
"Similarly, we are increasing LTVs for certain scenarios. For example, refinance bridging loans with ‘cash out’ is now available up to 70% LTV and, in certain circumstances, we will consider lending to 80% LTC on Below Market Value purchases."