Catalyst Property Finance has reintroduced a higher LTV bridging product up to 70% LTV.
The lender had previously launched a temporarily restricted range capped at 60% LTV due to Covid-19 market uncertainty.
Chris Fairfax (pictured), CEO at Catalyst Property Finance, said: “Recently, I stated our risk would be closely monitored and updated as soon as we felt it prudent to do so. Having undertaken a credit review, and in liaison with our valuer panel, we are now in a position to bring back our 70% LTV bridging product.
“What’s underpinned this decision is understanding that the immediate and anticipated longer–lasting impacts of Covid-19 on the residential property market are now being risk–factored into valuations; so it is only fair to our brokers and borrowers that we move quickly to provide improved LTVs.
“Catalyst continues to access a valuation panel who can safely inspect and report in line with HM Government and RICS guidelines. In addition, we can accept AVM/desktop and drive-by valuations, subject to meeting criteria.
“Catalyst is fully committed to providing brokers and their clients with short-term finance throughout this tricky time.”
