Catalyst is increasing LTVs across its first charge bridging, refurbishment bridging” and “second charge bridging” ranges.
First charge bridging is now available up to 80% of Open Market Value (was 75%) and second charge bridging is now available up to 75% of Open Market Value (was 70%).
Refurbishment bridging is now available up to 80% of Open Market Value (was 75%) on the light refurb option. With Catalyst, ‘Light refurb’ allows for a refurb budget or total build cost (inclusive of professional fees) up to 50% OMV/50% GDV and up to 25% property footprint expansion.
The new, higher leverage options are available for loans from £100,000 to £500,000. The lender’s standard loan sizes range from £100,000 to £10,000,000.
Chris Fairfax (said), CEO at Catalyst, said: “We believe higher LTV options for bridging and light refurbishment borrowers are going to be in stronger demand in the short and medium-term; Catalyst believes this area is currently underserved and represents good risk when carefully analysed”.
