London Credit extends bridging valuation promotion

This applies to new applications on all residential, commercial and semi-commercial loans up to £1m. To qualify, loans must complete by 15 March.  

London Credit provides bridging loans ranging from £100,000 to £3.5m for properties in London, the South East, and other major cities. 

Finance is available up to 70 per cent loan to value (LTV), with terms from three to 18 months. Loans can be used for refurbishment, capital raising and auction finance. 

Marios Theophanous (pictured), credit manager at London Credit, said: “We’re excited that we are able to extend our promotion to refund valuation fees on residential, commercial and semi-commercial bridging loan applications that we receive by mid-March.  

“The year ahead presents new opportunities for property investors and, at London Credit, we recognise the importance of cost efficiency in helping investors to seize those opportunities. Our promotion aims to assist borrowers in achieving this goal while upholding our dedication to providing exceptional service and tailor-made deals.” 

A growing market

According to the Association of Short Term Lenders (ASTL), of which London Credit is a member, the bridging market is on track for growth. 

The latest data from the ASTL showed that bridging loan books reached a record high of £7.3bn in Q3, and the value of applications totalled £9.7bn. This represented annual increases of two per cent and 5.6 per cent respectively. 

Vic Jannels, CEO of the ASTL, said this growth was due to the versatility of the bridging market.