Lendco has introduced automated valuation models (AVMs) to its bridging offering, as well as dropping rates on residential acquisition transactions.
The AVM product is available at a gross 65% loan-to-value (LTV) on loans of up to £750,000, with a Hometrack confidence level of five or above.
Qualifying loans are available from 0.74% per month.
Reduced pricing on straightforward bridging transactions is available at up to 75% LTV, on loans under £750,000, starting from 0.69% per month.
Alex King (pictured), executive director at Lendco, said: “We’re delighted to further support our intermediaries with these modifications to our product range.
“The use of AVMs is not new in the bridging market and we felt it was important that we added this tool to our armoury.
“We’ll now be able to process some more time-sensitive applications with greater speed, I expect we’ll be able to complete eligible deals in a matter of days.”
He added: “The bridging space is a competitive one and with us very keenly priced on the more vanilla residential transactions I expect us to be front and centre of broker’s thoughts when they are placing such deals.”
