London Credit has announced an increase in the maximum loan-to-value (LTV) for its residential loans, raising the cap from 70% to 75%.
The updated LTV limit applies to loans up to £1m for properties situated within London zones 1 to 4, with the condition that the borrower possesses additional assets.
London Credit specialises in bridging loans ranging from £100,000 to £3.5m for residential, commercial, and semi-commercial properties located in London, the South East, and major cities.
The loans, which come with terms spanning three to 18 months, cater to various needs, such as refurbishment, auction finance, and capital raising. For commercial and semi-commercial loans, the maximum LTV remains at 65%.
Marios Theophanous, credit manager at London Credit, comments on the update: “At London Credit, we are always looking at ways we can improve the support we offer to brokers and their clients… And now we have increased our maximum LTV on residential loans, providing property investors with the opportunity to achieve greater leverage.”
