Bridging
Catalyst returns to 80 per cent LTV bridging
Specialist lender Catalyst has returned to 80 per cent loan to value (LTV) tier for bridging, having reduced it to 75 per cent LTV due to market conditions.
The lender will be able to go up to 80 per cent LTV for everyday bridging, light refurbishment finance, development exit finance, finish and exit finance and auction finance.
At 80 per cent LTV, rates start from 0.99 per cent with the maximum loan size is £1m and the maximum value per property unit is £750,000.
The lender said that terms can be secured from the new business team, who aim to respond to enquiries within one business hour.
Chris Fairfax, CEO at Catalyst, says: “Catalyst is known for leading the market with product innovation. We like to push boundaries and offer brokers something different, something useful for their clients. In the last three months alone, we’ve launched lower rates, increased leverage, and enhanced proc fees.
He added: “Our next push forward is bringing back 80 per cent LTV lending. The timing is right; higher leverage loans on our loan book are performing exceptionally well, and we’ve seen increased broker demand at 80 per cent LTV for loans that ‘make sense’ to our credit team.”
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“I will stress, while Catalyst remains happy to lend on the more complex loans and to less experienced borrowers at 70 per cent LTV, our 80 per cent LTV lending is available for centre risk deals and experienced borrowers.
“We know there are great deals out there in need of 80 per cent leverage and our doors are open to brokers, from today we’re back with higher-leverage funding.”