The service has been launched with the support of Hometrack software, which offers property data with artificial intelligence (AI)-powered market intelligence to help with decision-making.
As part of the AVM process and to reassure applicants, SDKA will ask every client to complete a video walkaround of properties with an underwriter.
Kunal Mehta (pictured), managing director of SDKA, said: “We were only going to launch an AVM offering when we found the right partner, and with their extensive expertise and proven track record, Hometrack ticks all the boxes.
“Coupled with the opportunity to walk around their chosen property via a video tour with one of our highly experienced underwriters, we can ensure the borrower is in the best position to decide whether to proceed with the bridge.”
He added: “And most importantly, it again shows that we are always looking at our systems and methods to minimise time-to-cash, because the essence of bridging is speed. Yes, we will look at every case on an individual basis, but this is never going to be at the expense of the release of funds.”
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Last month, the lender announced a 0.5% reduction to the rate of its Bridge 75 Residential product to 0.84% per month.
SDKA lends up to 75% loan to value (LTV) on terms of up to 24 months. The maximum loan size is £10m.
