Catalyst Property Finance has announced that it is now accepting short form valuations.
The principal lender says the move will save borrowers’ time and money.
short form valuations are available for residential property in major cities with a value up to £500k (£750k in London). Light refurbishment is allowed.
Matt Gillon (pictured), head of credit at Catalyst Property Finance, said: “At Catalyst, we are always looking for ways to improve our bridging finance proposition for our broker partners and their clients; whether that be through our service levels or our market-leading product offering.
“We have a number of new improvement initiatives to announce in 2020 and into 2021; the first being the acceptance of short form valuations for suitable properties.
“Being able to utilise short form valuations, will allow us to be even more efficient and cost-effective. One of the benefits is that they speed up the loan application process, typically by two to three days, which is a huge advantage for those borrowers needing quick access to finance. What’s more, there’s a real cost saving for borrowers.”