Specialist lender Catalyst has introduced new automated valuation (AVM) and desktop valuation unregulated bridging products.
In partnership with Rightmove AVM and VAS Assurance, the range was created to provide a more streamlined and cost-effective solution for brokers seeking bridging finance for their clients.
Catalyst’s AVMs are free for qualifying applications up to 65% loan-to-value (LTV), with property values starting from £500,000.
The desktop valuations cost between £200 and £500 and are available for qualifying applications up to 70% LTV on properties valued up to £1,000,000.
Loans are provided to UK individuals, limited companies, LLPs, and offshore limited companies.
Terms range from 3 to 24-months, allowing for cosmetic works, and borrowers with some adverse credit may be considered.
Chris Fairfax (pictured), CEO at Catalyst, said: “Having worked as an intermediary in the bridging space for over a decade, I know that cost and speed of transaction can have a huge impact on the success of securing the deal with your client.
“This year, I have tasked my team to further improve the way we support our broker partners; launching these AVM and Desktop Valuation bridging products is part of our plan to deliver even more incredible service.”
