The product offers loans up to £1m and the headline rate starts at 0.85% per month. Loans are available up to 75% loan to value (LTV) and the lender offers a streamlined valuation approach to speed the process up, with no physical valuation needed up to 60% LTV on purchases and 50% for refinances.
Automated valuation models (AVMs) will be used at higher LTVs where suitable, while refinances will be subject to a physical valuation above 65% LTV.
The product is available on a variety of properties, including houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs), new builds and listed buildings in England and Wales. Lakeshield will consider a range of borrowers, including people with adverse credit and foreign nationals.
Daniel Rodney (pictured), co-founder of Lakeshield, said: “We’re really excited to bring this product to market. Brokers tell us that truly reliable, fast bridging is still rare. In testing, we completed several residential transactions in under seven days, which gave us confidence that we’ve built a repeatable process brokers can trust.
“We look forward to helping more clients move quickly on opportunities without delays.”
Aldermore Insights with Jon Cooper: Edition 1 – Downing Street Roundtable
Sponsored by Aldermore
Earlier this year, the firm launched an exclusive auction finance product on Brickflow.
