Catalyst Property Finance has made changes to its bridging lending criteria.
The criteria changes are as follows:
- Increase from 65% LTV to 70% LTV on second charge bridging
- Increase from 80% LTV to 90% LTV of purchase price on below market value transactions
- Increase to 65% LTV for complex bridging
- Increase to 65% LTV for borrowers with adverse credit
- Standard bridging with refurb up to 75% market value.
Chris Fairfax (pictured), CEO at Catalyst Property Finance, said: “Today we are announcing a number of improvements to our bridging product range. We are increasing LTV leverage for second charge lending, below market value transactions, complex bridging and adverse credit borrower products.
“At Catalyst, we are continuously looking for ways to make our products more appealing for brokers and their clients. Our aim is to open up more opportunities for brokers who introduce complex cases, have borrowers with previous credit issues and BMV purchases.
“We’ve decided to launch these improvements during our PROC-tober incentive so intermediaries can take full advantage of our 2.5% proc fees.”