Catalyst increases bridging LTVs
Catalyst Property Finance has unveiled lending criteria improvements to their bridging range during their PROC-tober incentive.
Chris Fairfax, chief executive at Catalyst Property Finance, said: “Today we are announcing a number of improvements to our bridging product range.
“We are increasing LTV leverage for second charge lending, below market value transactions, complex bridging and adverse credit borrower products.
“At Catalyst, we are continuously looking for ways to make our products more appealing for brokers and their clients.
“Our aim is to open up more opportunities for brokers who introduce complex cases, have borrowers with previous credit issues and BMV purchases.
“We’ve decided to launch these improvements during our PROC-tober incentive so intermediaries can take full advantage of our 2.5% proc fees.”
Other criteria changes include an increase from 65% LTV to 70% LTV on second charge bridging and an increase of 65% LTV for borrowers with adverse credit.