Tuscan Capital restores maximum LTV to pre-lockdown levels
Tuscan Capital has restored its maximum loan-to-value (LTV) to 75%.
The decision stemmed from demand by introducers for competitively structured short-term funding products.
The previous reduction of Tuscan Capital’s maximum LTV was due to the wider market adjustments and the need to ensure its operational continuity during the national shutdown.
The firm will now lend on purchase bridging products up to a maximum of 75% and on refurbishment bridging offerings up to 70% LTV.
Colin Sanders, chief executive of Tuscan, said: “Funding is readily available now and our team fully back in place and prepared for an increase in new business.
“Given the uncertainty of the past five months, I am expecting an uplift in new applications through to the end of 2020 as developers and investors make firm decisions about their plans and strategies for 2021.
“During lockdown, we remained open for business whilst focusing primarily on servicing our existing clients and on those deals we had committed to fund before the shutdown occurred.
“But we also took time to monitor closely shifting market appetite.”