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Catalyst launches temporary range of short-term loans

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  • 31/03/2020
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Catalyst launches temporary range of short-term loans
Bridging and development lender Catalyst Property Finance has released a temporary product range for borrowers in need of short-term bridging finance during the health crisis.

 

The range is limited to 60 per cent loan to value (LTV), has a maximum loan size of £5m and is only available for residential properties in major towns and cities. 

The lender’s credit team will consider light refurbishment and can offer both first and second charge loans. 

Chris Fairfax (pictured), chief executive at Catalyst Property Finance, said: “We continue to complete loans and we have an appetite to lend but under restricted criteria, temporarily.  

“We are nimble and adapting daily to ensure loans can be processed as smoothly as possible.” 

Several non-bank lenders have scaled back or completely withdrawn product ranges since the coronavirus outbreak.  

Vida Homeloans were one of the first to do so and at the time, warned others may follow due to the costs of funds and current uncertainty in the capital market. 

 

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Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors. Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies. This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector. She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021. In her spare time, Shekina likes to read, travel, listen to music and socialise with friends. She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content. Follow her on Twitter at @ShekinaMS

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