We’re pleased to announce that we’ve made the following changes to our Short Term Lending proposition as of today. We are cascaded this information to all to ensure we keep you up to speed with changes happening our proposition.
| Scheme | 50% LTV | 60% LTV | 65% LTV | Facility Fee |
| Standard Regulated | 0.49% | 0.59% | 0.64% | 2.00% |
| Standard Non-Regulated | 0.54% | 0.64% | 0.69% | 2.00% |
| Light Refurbishment (Reg & Non-Reg) | 0.54% | 0.64% | 0.69% | 2.00% |
As you will see a number of criteria enhancements have been made that includes:
- 65% LTV – The new range is now available to 65% LTV (from 50% LTV) providing more range for your customers;
- Light Refurbishment has been re-introduced to provide increased borrowing solutions (excluding Refurb Buy to Let);
- Maximum available loan size increased to £1m;
- The re-introduction of valuations means that some property types that had been excluded under AVMs are now available again – e.g. New Build, HMOs and Multi-Units, Flats.
The updated product guide and guide to bridging is attached for ease of reference.
We’re sure you’ll agree that today’s launch offers positive news and options for brokers. If there are any questions regarding the new products and enhanced criteria please contact Liza, Ian or Jon, who as always will be happy to assist. Please remember that our Specialist Distribution Managers are also always at hand for any bridging relating questions that you have.
